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liq [111]
3 years ago
14

Find the total amount due on a simple-interest loan if the principal is $3000 with a rate of 5% for 10 years.

Mathematics
1 answer:
Korolek [52]3 years ago
3 0
\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$3000\\
r=rate\to 5\%\to \frac{5}{100}\to &0.05\\
t=years\to &10
\end{cases}
\\\\\\
A=3000(1+0.05\cdot 10)\implies A=3000(1.5)
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Answer:

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shusha [124]

I would use a chart to solve this problem.

This is a good wya to organize your information.

Down the left side, list the people involved.

I put Bob first and the mom second but the order doesn't matter.

Since Bob's mom is 3 times older than Bob, we can represent

Bob's age now as x and Bob's mom's age now as 3x.

Bob's age in 12 years will be x + 12 and Bob's mom's

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Since the second sentence starts with in 12 years,

we will be using the information from our second column.

In 12 years, Bob's mom's age, 3x + 12, will be,

equals, twice of her son's age, 2(x + 12).

Solving from here, we find that x = 12.

This means that Bob's age now is 12 and his mom is 36.

The chart is attached below.

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3 years ago
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