shanviray
Answered

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amy borrowed money from the lending company at 6% interest if she paid an interest of php450.00 after 19months how much money did she borrow​

Sagot :

Answer:

She borrowed php4737.00.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

[tex]E = P*I*t[/tex]

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

[tex]T = E + P[/tex]

6% interest:

This means that [tex]I = 0.06[/tex]

19 months:

An year has 12 months, so [tex]t = \frac{19}{12} = 1.5833[/tex]

She paid an interest of php 450. How much money did she borrow​

This is P when [tex]E = 450[/tex]. So

[tex]E = P*I*t[/tex]

[tex]450 = P*0.06*1.5833[/tex]

[tex]P = \frac{450}{0.06*1.5833}[/tex]

[tex]P = 4737[/tex]

She borrowed php4737.00.

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