Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Get immediate and reliable solutions to your questions from a community of experienced experts on our Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.
Sagot :
Given:
Principal, P = $27,000
Interest rate, R = 1.9%
Time, T = 4
Let's solve for the following.
(a) What is the interest she must pay?
To find the interest apply the simple interest formula:
[tex]I=\frac{P\ast R\ast T}{100}[/tex]Substitute values into the formula:
[tex]\begin{gathered} I=\frac{27000\ast1.9\ast4}{100} \\ \\ I=\frac{205200}{100} \\ \\ I=2052 \end{gathered}[/tex]Therefore, the interest she must pay is $2,052
(b) What is the total she must pay back?
To find the total she must pay, add the interest and the principal amount.
Total Amount = Principal + Interest
Total Amount = 27000 + 2052 = 29,052
Therefore, the total amount she must pay is $29,052
ANSWER:
(a) $2,052
(b) $29,052
We hope our answers were useful. Return anytime for more information and answers to any other questions you have. 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.
