Question

Kate borrowed $400 from her friend she will repay this amount plus 3 percent simple interest after one year what is the total amount she will pay her friend

Answer 1

Answer: The total amount that Kate will pay her friend after one year is $412.

Step-by-step explanation:

Hi, to solve this problem we first we have to multiply the value of the money borrowed ($400) by the 3 percent, expressed in decimals.

So:

400 x 0.03= 12

We obtained the simple interest of one year. The next step is adding that result to the money borrowed.

400+ 12 = 412

The total amount that Kate will pay her friend after one year is $412.

Feel free to ask for more if it´s necessary or if you did not understand something.

Answer 2

To find the amount she will pay her friend use the formula of
A=p (1+rt)
A ?
P 400
R 3%=0.03
T 1 year
A=400×(1+0.03×1)
A=412