Post a New Question

Maths

posted by .

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)

  • Maths -

    I = prt
    I = 7500 * 0.05 * 1.5

    Solve for I

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

  • Maths -

    Thank you

  • Maths -

    You're welcome.

  • Maths -

    %10 of $850 is?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. word problem

    A person invests $7,500 part at 5% and the remainder at 4% simple interest. If the total interest at the end of the first year was $346.50, find the amount invested at 4%. Let x = amount invested at 5% Let (7500 - x) = amount invested …
  2. word problem

    A person invests $7,500 part at 5% and the remainder at 4% simple interest. If the total interest at the end of the first year was $346.50, find the amount invested at 4%. total interest=346.5=7500*.05 + x*.04 solve for x. ooopsss, …
  3. Math

    Choose the one alternative that best completes the statement or answers the question. Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent. Martin takes out a simple-interest …
  4. Finite Math

    A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10 months. Find the principal. (Round your answer to the nearest cent.)
  5. Math

    the principle B is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money,. Assume there are 360 days in a year and round to the nearest cent. P=$4000, r=6.0%and t=6 month
  6. Business Math

    Compute the simple interest. Assume 1 month to be of a year. Round your answer to the nearest cent. Principal Rate Time Interest $1,025 4.5% 16 months
  7. math

    Allan borrowed $4800 from his father to buy a car. He repaid him after 9 months with interest of 5% per year. Find the total amount he repaid.
  8. Maths

    Mrs Ricky borrowed $5,340 at a bank at 9.5% per annum simple interest for 5 years. (A) the sum of money paid in interest to the bank. (B) the total amount of money repaid to the bank. (C) the value of each monthly installment.
  9. Financial maths year 9

    Sophie borrowed $2000 at a simple interest rate of 15% for 3 years to repay the loan and has $900 in interest. If Sophie's interest was calculated at the same rate on the balance owing, how much would she have owed after 6 months if …
  10. Maths

    Sophie borrowed $2000 at a simple interest rate of 15% for 3 years to repay the loan and has $900 in interest. If Sophie's interest was calculated at the same rate on the balance owing, how much would she have owed after 6 months if …

More Similar Questions

Post a New Question