blackmonarch1209
blackmonarch1209 blackmonarch1209
  • 03-11-2021
  • Mathematics
contestada

If $87,495 is borrowed for 7 years at an annual simple interest rate of 8.355%, what is the total amount that must be repaid?

Respuesta :

s1m1
s1m1 s1m1
  • 03-11-2021

Answer:

$138,666.45

Step-by-step explanation:

I = Prt, where

I = simplest interest = $87, 495

r = anual rate = 8.355% = 0.08355

t = time = 7 years

I = 87,495 * 0.08355 *7  = 51,171.45075 ≈ $51, 171.45

What is the total amount that must be repaid?

The money they have to be returned are the borrowed P,  and the interest I.

P +I = 87,495 + 51, 171.45 = $138,666.45

Answer Link
skimliberty349
skimliberty349 skimliberty349
  • 09-12-2021

Answer:

$138,666.45

Step-by-step explanation:

Answer Link

Otras preguntas

What is the answer to the problem??
A support beam needs to be placed at a 28° angle of elevation so that the top meets a vertical beam 1.6 meters above the horizontal floor. the vertical beam mee
When Japan and Germany began their aggressive actions overseas, many Americans believed that it's two great oceans protected the u.s the passage of which law,ho
Writing ads and setting prices are examples of which of the following?
How can the events of the Holocaust be used to avoid genocide in the modern world?
How did the louisiana purchaase benefit the united states?
What is the purpose of providing a ledger account for each account?
Use the graph to determine the function's domain and range.
Help me on 2Q the third one: I'll give you 15 points and list you as a brainlist if I can!
help me please thanks