Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
Answer:
[tex]\boxed{\blue{\sf He\ will \ owe \ \$ 8540 .}}[/tex]
Step-by-step explanation:
According to Question , Yoshua borrowed $8,000 from his credit union over 9 months. He pays a simple interest of 9%. And we are required to find the total amount of money he will owe the bank .
So , we know the formula of Simple Interest as ,
[tex]\qquad\boxed{\red{\bf SI =\dfrac{P\times R\times T}{100}}}[/tex]
As ,per the data in Question ,
- Amount = $ 8,000
- Time = 9 months
- Rate of Interst = 9% .
[tex]\implies SI = =\dfrac{P\times R\times T}{100} \\\\\implies SI =\dfrac{\$ 8000 \times \dfrac{9}{12}\times 9 }{100} \\\\\implies SI = \dfrac{\$ 8000 \times 9 \times 9 }{12\times 100 }\\\\\boxed{\pink{\bf \implies Simple\: Interst = \$ 540 }}[/tex]
Hence the Simple Interest is $ 540.
And , we know that Amount is ,
[tex]\qquad\boxed{\red{\bf Amount = SI + Principal}}[/tex]
[tex]\implies Amount = Principal + SI \\\\ \implies Amount = \$ 8000 + \$ 540 \\\\\boxed{\orange{\bf \implies Amount= \$ 8540 }}[/tex]
Hence he will owe $ 85400.
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.
