Answer:
The amount which Steph pays for the original loan amount and interest is $81,000 .
Step-by-step explanation:
Given as :
The original loan amount took by Steph = P = $ 30,000
The rate of interest = R = 8.5 % at simple interest
The time period of the loan = T = 20
Let The amount she pay = $ A
Now,<u> From Simple Interest method :</u>
Simple Interest = ![\dfrac{\textrm Principal\times \textrm rate\times \textrm time}{100}](https://tex.z-dn.net/?f=%5Cdfrac%7B%5Ctextrm%20Principal%5Ctimes%20%5Ctextrm%20rate%5Ctimes%20%5Ctextrm%20time%7D%7B100%7D)
or, SI = ![\dfrac{\textrm P\times \textrm r\times \textrm T}{100}](https://tex.z-dn.net/?f=%5Cdfrac%7B%5Ctextrm%20P%5Ctimes%20%5Ctextrm%20r%5Ctimes%20%5Ctextrm%20T%7D%7B100%7D)
or, SI = ![\dfrac{\textrm $30,000\times \textrm 8.5\times \textrm 20}{100}](https://tex.z-dn.net/?f=%5Cdfrac%7B%5Ctextrm%20%2430%2C000%5Ctimes%20%5Ctextrm%208.5%5Ctimes%20%5Ctextrm%2020%7D%7B100%7D)
or, SI = ![\frac{5100000}{100}](https://tex.z-dn.net/?f=%5Cfrac%7B5100000%7D%7B100%7D)
∴ Simple Interest = SI = $51,000
Now, Amount = Original amount + Simple Interest
Or, A = $30,000 + $51,000
Or, A = $81,000
So, The amount she pay altogether = A = $81,000
Hence The amount which Steph pays for the original loan amount and interest is $81,000 . Answer