Monique borrows $5000 for 3 years at 8% per annum simple interest.
2 answers:
Answers:
- a) $1200 in interest is charged.
- b) $6200 must be paid back in total.
=============================================
Work Shown:
a)
i = P*r*t
i = 5000*0.08*3
i = 1200 is charged in simple interest
---------------------------
b)
She must pay back the amount borrowed ($5000) which is the principal as well as the interest calculated in part a) earlier.
The total amount she must pay back is 5000+1200 = 6200 dollars
Answer:
1200 dollars for interest, she must pay 6200
Step-by-step explanation:
8 percent of 5000 is 400 times 3 (years) is 1200
You might be interested in
Hey there! :)
The answer is 80%
6 ÷ 30 = 0.2 = 20%
100 - 20 = 80
Hope this helped :)
Answer:
The distance on a number line between -9 and -5 would be 4. This is kinda easy.
Step-by-step explanation:
Answer:
36 is the answer to the questions
Answer: For the first 5 months she pays a monthly$15 membership fee. Use the explicit rule f(n) = 15n + 10
Step-by-step explanation:
