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MrRissso [65]
3 years ago
14

amy borrowed money from the lending company at 6% interest if she paid an interest of php450.00 after 19months how much money di

d she borrow​
Mathematics
1 answer:
Olenka [21]3 years ago
4 0

Answer:

She borrowed php4737.00.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

E = P*I*t

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

T = E + P

6% interest:

This means that I = 0.06

19 months:

An year has 12 months, so t = \frac{19}{12} = 1.5833

She paid an interest of php 450. How much money did she borrow​

This is P when E = 450. So

E = P*I*t

450 = P*0.06*1.5833

P = \frac{450}{0.06*1.5833}

P = 4737

She borrowed php4737.00.

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