$81.40-$9.00=$72.40
$72.40/.4 (cents)= 181 minutes
The amount of money borrowed is $ H
Time for borrowing is 25 years
Amount paid per month M
Amount paid per year 12M
Interest rate paid=I
Let the payment method be simple interest method, then:
I=(PRT)/100
plugging in our values we have:
I=(H×R×M)/100
hence:
I=HRM/100
Answer:
Total amount in Joe's savings account T = $448
Step-by-step explanation:
Given;
time t = 3 years
Annual rate r = 4%
Principal P = $400
Simple interest can be expressed as;
I = Prt/100
Substituting the given values;
I =400×4×3/100 = 4800/100
I = $48
Total amount in account T;
T = P + I = $400 + $48 = $448