I believe its like 20% but I'm not completely sure. hope it helps some:)
Given that Dan borrowed $1,250.00 from his brother who is charging him 5% simple interest. Now we have to find the total payment that he needs to payback including interest. Hence we can use simple interest formula
I=PRT
Where P= 1250
R=5% =0.05
T=18 months = 18/12 = 1.5 years
Now plug these values into above formula
I=PRT=1250*0.05*1.5=93.75
So total payment including interest = 1250+93.75=1343.75
Hence final answer is $1343.75.
90 is the answer for you're question
Answer:
The answer is $79.45
Step-by-step explanation:
If the given 4.5 percent interest rate is a yearly rate then according to the information in the question, we can calculate Bonnie's money at the end of the three year period as:
The initial amount x interest rate x time = 70 x 0.045 x 3 = $9.45
So the amount of money after the three year period comes up to $79.45 for Bonnie.
I hope this answer helps.
This problem is far beyond my capability this problem is declared to be one of the toughest in the world due to it not agreeing with the quadratic formula
