Answer:
24
Step-by-step explanation:
Hope this helps have a good day
It’s going to be 400 dollars, 20percent is 100 dollars
Answer:
amount of total cash payment is $5450
Step-by-step explanation:
Given data
amount = $15000
principal = $5000
rate = 3% = 0.03
to find out
the amount of total cash payment
solution
we know according to question is Each yearly installment will include both principal repayment of $5,000 and interest payment for the preceding one-year period
so first we calculate interest i.e.
interest = rate × amount
interest = 0.03 × 15000
interest = 450
so interest is $450 for 1 year
now we calculate the amount of total cash payment i.e.
interest + principal
so the amount of total cash payment = 450 +5000 = 5450
amount of total cash payment is $5450
