We have been given that Anil borrows $80 000 to buy a business. The bank gives him a loan, with an interest rate of 2% each year. We are asked to find the total amount paid back by Anil to bank after 10 years.

We will use simple interest formula to solve our given problem.

$A=P(1+rt)$ , where,

A = Final amount,

P = Principal amount,

r = Annual interest rate in decimal form,

t = Time in years.

Let us convert 2% into decimal.

$2\%=\frac{2}{100}=0.02$

We have $P=\$80,000$ and $t=10$ , so we will get:

$A=\$80000\left(1+0.02\cdot 10\right)$

$A=\$80000(1+0.2)$

$A=\$80000(1.2)$

$A=\$96,000$

Therefore, Anil will pay $\$96,000$ to the bank after 10 years.

8 0

3 years ago

What is the slope of the line that contains the point -6,-7 and -6,2

Masja [62]

We know that coordinates are labeled (x,y)
The formula to find slope is (Y2-Y1)/(X2-X1)
So (2- (-7))/(-6-(-6) undefined because the denominator is zero. The line looks like a vertical line at x=-6

8 0

3 years ago

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