Solve the problem. Assume that simple interest is being calculated. Round

your answer to the nearest cent.
Susie borrowed $7500. from a bank for 18 months with interest of 5% per
year. Find the total amount she repaid on the due date of the loan. (Use: I=prt)

I = prt

I = 7500 * 0.05 * 1.5

Solve for I

Then add the interest to $7500 to find the total amount.

Thank you

You're welcome.

%10 of $850 is?

To solve this problem, we can use the formula for simple interest: I = prt, where I is the interest, p is the principal amount, r is the interest rate per year, and t is the time in years.

Given:
Principal amount (p) = $7500
Interest rate (r) = 5% per year
Time (t) = 18 months

Before we calculate the interest, we need to convert the time from months to years since the interest rate is per year. To convert 18 months to years, we divide it by 12:
t = 18 months / 12 months/year = 1.5 years

Now we can substitute the values into the formula:
I = prt
I = $7500 * 0.05 * 1.5

Calculating the interest:
I = $7500 * 0.05 * 1.5 = $562.50

The interest on the loan is $562.50.

To find the total amount she repaid on the due date, we need to add the interest to the principal amount:
Total amount repaid = Principal + Interest
Total amount repaid = $7500 + $562.50

Calculating the total amount repaid:
Total amount repaid = $7500 + $562.50 = $8062.50

Therefore, the total amount Susie repaid on the due date of the loan is $8062.50.