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3 years ago

What is 1.05% written as a decimal?

Mathematics

1 answer:

ivanzaharov [21]3 years ago

4 0

<span>1.05% = (1.05)/100= {105/100}/100=105/(100*100)
=105/10000 =0.0105. Hope this helps.</span>

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The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total a

Julli [10]

The loan's future value A, or the total amount due at time t is $1105.

Given, P = $1000, r = 3.5%, t = 3 months.

We need to find the loan's future value A.

<h3>What is Simple interest?</h3>

Simple interest is computed on the principal amount of a loan or the first deposit in a savings account. Simple interest does not compound, therefore an account holder will only get interest on the principal, and a borrower will never have to pay interest on previously collected interest.

We know that, $Simple Interest=\frac{P\times\ T \times\ R }{100}$

Now, $Simple Interest=\frac{1000\times3\times3.5}{100\times12}$

$=\frac{10,500}{100} =105$

As we know, $Amount=Principal+Simple Interest$

$=1000+105=1105$

Hence, the loan's future value A, or the total amount due at time t is $1105.

To know more about simple interests visit:

brainly.com/question/25663053?referrer=searchResults

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jok3333 [9.3K]

Answer:

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Step-by-step explanation:

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Here we go:

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