Ronald is preparing lemonade for his friends. To make 6 cups of lemonade, he needs 1 cup of lemon juice. To make 24 cups of lemo
nade, he needs to proportionally increase the amount of lemon juice
2 answers:
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The amount Howie will pay back at the end of one year is $26000.00
The given parameters are:
-- the principal amount
-- the interest rate
--- the duration
The amount to pay back in this duration is then calculated using:
So, we have:
Express percentage as decimal
Multiply
Hence, the amount to pay back is $26000.00
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