Answered

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​Joshua’s computer loan statement said he would pay​ $1,244.34 in simple interest for a​ three-year loan at​ 12.4%. How much did Joshua borrow to buy the​ computer?

Sagot :

[tex]~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill & \$1244.34\\ P=\textit{original amount deposited}\\ r=rate\to 12.4\%\to \frac{12.4}{100}\dotfill &0.124\\ t=years\dotfill &3 \end{cases} \\\\\\ 1244.34=P[1+(0.124)(3)]\implies 1244.34=P(1.372) \\\\\\ \cfrac{1244.34}{1.372}=P\implies 906.95\approx P[/tex]

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