Marcy is planning to borrow 12,500 with a simple interest rate of 5.2% for 4 years. How much will she pay back to the bank?

1 answer:

4 0

Answer: 15100

------------------------------------

Explanation:

The simple interest formula is
i = P*r*t
where
i = interest
P = is the amount borrowed
r = interest rate in decimal form
t = time in years

In this case,
i = unknown
P = 12500
r = 0.052 (equivalent to 5.2%)
t = 4

So,
i = P*r*t
i = 12500*0.052*4
i = 2600
Which means $2,600 in simple interest is charged on the amount borrowed. You have to pay this amount on top of the $12,500 borrowed.

In total, you have to pay back P+i = 12500+2600 = 15100 which is the final answer

You might be interested in

Please help me ASAP, thank you ^-^. The radius of the cone is 7 in and y = 25 in. What is the volume of the cone in terms of π?

MrRa [10]

<h2>Answer:</h2>

The volume of the cone in terms of π is:

A. 392π in³

<h2>Step-by-step explanation:</h2>

The radius of the cone i.e. r is: 7 in.

and the slant height of the cone i.e. l=y=25 in.

and let h=x be the height of the cone.

Now, using the Pythagorean Theorem we have:

$l^2=r^2+h^2\\\\i.e.\\\\h^2=l^2-r^2\\\\i.e.\\\\h^2=(25)^2-7^2\\\\i.e.\\\\h^2=625-49\\\\i.e.\\\\h^2=576\\\\i.e.\\\\h=\sqrt{576}\\\\i.e.\\\\h=24$