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

ဇကis2/4 greater than or less than 2/3<br>

kicyunya [14]

Answer: 2/4 is less than 2/3

8 0

3 years ago

Find the volume of a cylinder with a diameter of 10 inches and a height that is three times the radius. Use 3.14 for pi and roun

maxonik [38]

V = pi r^2 h
v = 3.14 * 5^2 * 15
v = 3.14 * 25 * 15
v = 1177.5 in^3

7 0

3 years ago