1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ss7ja [257]
3 years ago
13

Mary wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate of 2%,

charged as simple interest. They lend her $6000 for 3 years. She makes no payments except the one at the end of that time. Answer the following questions. If necessary, refer to the list of financial formulas.
(a) How much total interest will Mary have to pay?
(b) What will the total repayment amount be (including interest)? X
Mathematics
1 answer:
lukranit [14]3 years ago
3 0

Answer:

a) Simple interest paid = $360

b) Total repayment amount = $6360

Step-by-step explanation:

It is given that:

Principal, P = $6000

Rate of interest, R = 2%

Time, T = 3 years

<em>(a) Total interest paid</em>:

<u>Formula</u> for Simple Interest is given as:

S.I. = \dfrac{P \times R \times T}{100}

Putting the values of P, R and T to find out Simple Interest:\\\Rightarrow S.I. = \dfrac{6000 \times 2 \times 3}{100}\\\Rightarrow S.I. = \$360

<em>(b) Total repayment amount</em>:

We know that formula for total amount is given as:

<em>Amount = Principal + Simple Interest</em>

Amount = 6000 + 360 = $6360

So, total repayment amount = $6360

So, the answers are:

a) Simple interest paid = $360

b) Total repayment amount = $6360

You might be interested in
Which object has a mass of approximately 450 grams?
rewona [7]
I would say that the tree is 450 grams
4 0
3 years ago
Read 2 more answers
√70 is ________________________ because _________________________ . Choose the best response to fill in the blanks above
snow_tiger [21]

Answer:

\sqrt{70} is<u> Rational</u> because<u> it's a non-perfect square</u>

4 0
2 years ago
What is 0.83 in fraction form?
levacccp [35]
83/100 is 0.83 in fraction form 
8 0
3 years ago
Read 2 more answers
The four angles of a quadrilateral are in the ratio 2:3:5:8. Find the angles
sp2606 [1]

Answer:

Step-by-step explanation: let 2:3:5:8 be 2x,3x,5x,8x respectively .

*angles in a quadrilateral is 360 degree

*2x+3x+5x+8x=360

*18x=360

*x=360/18

*x=20

now substitute x in these:

2x=2x20=40

3x=3x20=60

5x=5x20=100

8x=8x20= 160

so these are the following angles: 40,60,100 and 160

8 0
3 years ago
Select all the equations that represent functions where the range decreases as the domain increases.
taurus [48]
A, C, and E.
you can check them by putting into y=mx+b form. if m is negative then as domain increases range decreases.
3 0
3 years ago
Other questions:
  • How would you find if these two triangles are congruent?
    7·1 answer
  • Help me please I’m stuck
    14·2 answers
  • (88888888) (567854326)?
    11·1 answer
  • Talia has a square bedroom. Her family is moving and her bedroom in her new apartment will be 3 feet shorter in one direction an
    10·1 answer
  • A large but sparsely populated county has two small hospitals, one at the south end of the county and the other at the north end
    13·1 answer
  • (2 x 10^4) + (7 X 10^4) =
    6·2 answers
  • What is the constant terms
    7·2 answers
  • What is the greatest common factor (GCF) of 28 and 36
    7·1 answer
  • Write the equation of the line that passes through the given points.<br> (0.5) and (3.9)
    6·1 answer
  • F(x) = x^3 - 5x^2 - x ; find f(3)
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!