Ariane borrows $300 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years?
1 answer:
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Answer:
$13.
Step-by-step explanation:
Let x represent money that Alison has.
We have been given that Leo has 7 times as much money as Alison had. So the amount of money that Leo has, would be .
We are also told that Leo had $91, so we will equate with 91 and solve for x as:
To solve for x, we will divide both sides by 7:
Therefore, Alison has $13.
