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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

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What is the inverse of the following statement? If m is the midpoint of PQ, then PM is congruent to QM
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The inverse of the statement is M be the point on PQ since PM is congruent to QM than M is midpoint on the PQ.

<h3>What do you mean by inverse?</h3>

Inverse of the statement means that explain the condition in reverse way or vice versa.

Since, M is the midpoint of PQ, then PM is congruent to QM.
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<h3>Answer:  9V</h3>

=============================================================

Reason:

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