Answer:
The amount which Steph pays for the original loan amount and interest is $81,000 .
Step-by-step explanation:
Given as :
The original loan amount took by Steph = P = $ 30,000
The rate of interest = R = 8.5 % at simple interest
The time period of the loan = T = 20
Let The amount she pay = $ A
Now,<u> From Simple Interest method :</u>
Simple Interest =
or, SI =
or, SI =
or, SI =
∴ Simple Interest = SI = $51,000
Now, Amount = Original amount + Simple Interest
Or, A = $30,000 + $51,000
Or, A = $81,000
So, The amount she pay altogether = A = $81,000
Hence The amount which Steph pays for the original loan amount and interest is $81,000 . Answer