The annual interest rate for a customer’s loan of $425 is 15.75%. What is the total dollar amount to be repaid on the loan, including principle and interest, for the entire year?

1.1575 * 425 = $__________

65 To calculate the total dollar amount to be repaid on the loan, including the principal and interest, you need to consider the interest rate and loan amount.

First, we need to find the amount of interest on the loan.

To calculate the interest amount, multiply the loan amount by the annual interest rate (in decimal form):

Interest = Loan Amount * Annual Interest Rate

In this case, the loan amount is $425, and the annual interest rate is 15.75% or 0.1575 in decimal form.

Interest = $425 * 0.1575

Next, calculate the total amount to be repaid by adding the interest to the principal loan amount:

Total Amount to be Repaid = Loan Amount + Interest

Total Amount to be Repaid = $425 + Interest

You can now substitute the value of interest into the equation:

Total Amount to be Repaid = $425 + (interest calculated above)

Finally, calculate the total amount to be repaid:

Total Amount to be Repaid = $425 + (Interest value)

By substituting the calculated values into the equation, you can find the total dollar amount to be repaid on the loan, including the principal and interest for the entire year.