Answer:
<em>Lisa borrowed $8,500</em>
Step-by-step explanation:
<u>Simple Interest
</u>
Occurs when the interest is calculated on the original principal of a loan only.
Unlike compound interest where the interest earned in the compounding periods is added to the old principal, simple interest only considers the principal to calculate the interest.
The interest earned is calculated as follows:
I=Prt
Where:
I = Interest
P = initial principal balance
r = interest rate
t = time
Lisa took out a loan for t=5 months and was charged simple interest at an annual rate of r=4.8% = 0.048. She paid interest for I=$170.
We need to convert the time to years (there are 12 months per year):
t = 5 /12 years.
The formula must be solved for P:

Substituting:


Lisa borrowed $8,500
Answer: Hi!
The solution to positive 6 and -6 is 0. A negative and a positive of the same absolute value cancel out.
Hope this helps!
Answer:

Step-by-step explanation:
The distance formula that gives the distance between two points is given as:

Plugging in our given points, we get:
.
The amount of interest for $5000 investment that earns 4% per year such that 1$ is $1.040742 a the end of the year will be as follows:
A=P(1+r/100)^n
P=principple
r=rate
n=time
Thus
Amount at the end of the year will be:
A=5000(1+4/100)^1=5200
thus interest earned will be:
5200-5000
=$200