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

What role do media, such as virtual worlds, play in shaping gender stereotypes?
Solve for x. 10x^2=29x-21 does anyone know this
The time t required to drive a certain distance varies inversely with the speed r. If it takes 2 hours to drive the distance at 40 miles per hour, how long will
Find the total price including 7percent tax on a $9.79 purchase
how will you discribe the sequence of oxygen ,carbon dioxide, and blood flow in your own words
Anyone know how to do this? Look at picture
the continuous muscular tube of the digestive system is called the
Would there be a problem or a major event in a horror story?
Write y=2x^2+8x+5 in vertex form. Please
How can I work out 30% of (blank) is 60?