Marian borrowed money to buy a sound system that costs $450. She is charged 5% simple interest for one year what is the total am

Question

2 years ago

13

ount that she pays for the sound system if she pays the full amount that in one year?

2 answers:

yarga [219] · Answer 1 · 2022-03-16T07:02:26+03:00

Marian will pay $472.50 for the sound system if she pays the full amount in one year.

Step-by-step explanation:

Given,

Money borrowed for sound system = $450

Interest rate = 5%

Amount of interest = 5% of money borrowed

Amount of interest = $\frac{5}{100}*450$

$Amount\ of\ interest=\frac{2250}{100}\\\\Amount\ of\ interest=\$22.50$

If she pays the amount in one year;

Total amount to be paid = Money borrowed + Amount of interest

Total amount to be paid = $450 + $22.50 = $472.50

Marian will pay $472.50 for the sound system if she pays the full amount in one year.

Keywords: interest, addition

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inessss [21] · Answer 2 · 2022-03-16T09:04:15+03:00

4 0

I don’t think that she pay $472.50

Answer: 435.90