We have been given that Anil borrows $80 000 to buy a business. The bank gives him a loan, with an interest rate of 2% each year. We are asked to find the total amount paid back by Anil to bank after 10 years.

We will use simple interest formula to solve our given problem.

$A=P(1+rt)$ , where,

A = Final amount,

P = Principal amount,

r = Annual interest rate in decimal form,

t = Time in years.

Let us convert 2% into decimal.

$2\%=\frac{2}{100}=0.02$

We have $P=\$80,000$ and $t=10$ , so we will get:

$A=\$80000\left(1+0.02\cdot 10\right)$

$A=\$80000(1+0.2)$

$A=\$80000(1.2)$

$A=\$96,000$

Therefore, Anil will pay $\$96,000$ to the bank after 10 years.

8 0

3 years ago

The graph below shows a system of equations: Draw a line labeled y equals x plus 4 by joining the ordered pairs negative 4, 0 an

mote1985 [20]

The system of equations:2 y = - x - 12 y = x + 5---------------------- x - 1 = x + 5- 2 x = 5 + 1- 2 x = 6x = - 6 : 2x = - 32 y = - 3 + 52 y = 2y = 1The solution is ( - 3 , 1 ).Answer: The x-coordinate of the solution to the system is: x = - 3.
Read more on Brainly - brainly.com/sf/question/1578438

7 0

3 years ago

Read 2 more answers

What is the slope of the line passing through (1, 2) and (3, 3)?

enot [183]

Answer:

Slope is 1/2

Step-by-step explanation:

Using the slope formula y₂-y₁/x₂-x₁

(x₁,y₁) and (x₂,y₂) → (1,2) and (3,3)

So...

3-2=1

3-1=2

1/2

8 0

2 years ago