azambrano2027 azambrano2027
  • 26-02-2022
  • Mathematics
contestada

You pay 3.5% annual simple interest for 12 years on a loan, and you pay $1512 in interest. what is the total amount you will repay?

Respuesta :

jdoe0001 jdoe0001
  • 26-02-2022

[tex]~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$1512\\ P=\textit{original amount deposited}\\ r=rate\to 3.5\%\to \frac{3.5}{100}\dotfill &0.035\\ t=years\dotfill &12 \end{cases} \\\\\\ 1512 = (P)(0.035)(12)\implies \cfrac{1512}{(0.035)(12)}=P\implies 3600=P~\hfill \boxed{\underset{\textit{total repay}}{\stackrel{3600+1512}{5112}}}[/tex]

Answer Link

Otras preguntas

Joints all move in the same way.true or false
what are the names of Mexico's two major peninsulas
What is the percent equivalent of 2/3 use a pattern like the one in the table to support your answer
The sales tax in one town is 8%. So the total cost of an item can be written as c+0.08x. What is the total cost of an item that sells for $13?
3is what percent of 8
If twenty three is equal to x minus nine and x is equal to four tune what is the answer
All of the following are uses of a thesis statement except: a. asks a question b. generates main ideas c. helps organize your speech d. introduces and summarize
show me how to solve 2/3 = m/42
Lori wants to distribute 35 peaches equally into baskets she will use more than 1 but fewer than 10 baskets how many baskets does Lori make
what does it mean when we say th at the two strands of DNA in the double helix are anti parallel