Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. he calculates that the extra money he pays in additional interest each year, if invested at the rate of 2.5% for one year, could earn him simple interest totaling $300. how much does tyrell pay in additional interest each month? a. $90 b. $100 c. $1,000 d. $12,000 please select the best answer from the choices provided. a b c d

Sagot :

Parrain

Based on the simple interest amount he could be making, and the rate of investment, Tyrell's additional interest per month is $1,000.

How much is Tyrell paying in additional interest?

Assuming the additional interest that Tyrell is paying is x, the following formula can be used:

300 = (x × 2.5%) x 12 months

Solving gives:

300 = 0.025x × 12

0.025x = 300/12

x = 25 / 0.025

x = $1,000

Find out more on additional interest at https://brainly.com/question/27037531.

#SPJ4

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.