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Answer:
They will have to pay $5,692,500 in 90 days.
Deben pagar $5,692,500 pagar al final de un período de 90 días.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time, in years..
After t years, the total amount of money is:
.
In this question:
3 months is 3/12 = 1/4 = 0.25 of an year. So
Then the interest accrued is:
What they will have to pay:
They will have to pay $5,692,500 in 90 days.
Deben pagar $5,692,500 pagar al final de un período de 90 días.