26rhelgoe
Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

risa loaned Abi $50 for a month. She charged 5% weekly simple interest for the month. How much did Abi have to pay Risa?

Sagot :

since the rate is a weekly basis, the period will also be in a weekly basis, so t = 4, assuming a month to be 4 weeks.

[tex]~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$50\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=weeks\dotfill &4 \end{cases} \\\\\\ A=50[1+(0.05)(4)]\implies A=50(1.2)\implies A=60[/tex]

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.