Question

Shauna borrows $400 from her parents to buy a phone. She agrees to pay them back plus 4% simple interest over one year. Part A Write an equation to represent the total amount Shauna will owe her parents.

Answer 1

----------------------------------------------------
Information
----------------------------------------------------
Amount = $400
Interest rate = 4% a year

----------------------------------------------------
Equation
----------------------------------------------------
Total amount = 400 + 0.04(400)
Total amount = 400 + 16
Total amount = $416

----------------------------------------------------
Answer: Total Amount = 400 + 0.04(400)
----------------------------------------------------