Math

Kelly borrows \$5,200 on 4% interest rate for 6 months. What will that total principal+interest payment be?

1. 👍 1
2. 👎 1
3. 👁 556
1. I = PRT

I = 5,200 * 0.04 * 0.5

I = ?

Add the interest to the principal to find the total payment.

1. 👍 0
2. 👎 0
👩‍🏫
Ms. Sue
2. I am confused-is interest measured as a percent or as money?

1. 👍 1
2. 👎 0
3. Interest is money.

1. 👍 0
2. 👎 0
👩‍🏫
Ms. Sue
4. Nevermind

1. 👍 0
2. 👎 0
5. p=\$5200
i=\$104
p+i=\$5200+\$104
=\$5304

1. 👍 2
2. 👎 0
6. Right.

1. 👍 0
2. 👎 0
👩‍🏫
Ms. Sue
7. THANK YOU SO MUCH!

1. 👍 0
2. 👎 0
8. You're very welcome.

1. 👍 0
2. 👎 0
👩‍🏫
Ms. Sue
9. Kelly borrows \$5,200 on 4% interest rate for 60 months.

1. 👍 0
2. 👎 0

Similar Questions

1. Maths

Principal - 6000 Rate - 5% Effective Date - May 15 Maturity Date - November 1 Partial Payment Amount - \$1500 Partial Payment Date -August 15 Also Answer the following questions: 1. NUMBER OF DAYS BETWEEN EFFECTIVE DATE AND PARTIAL

2. math

Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 divided by 1/12 of the annual interest rate. You maintain an average balance of â€‹\$780 on your creditâ€‹ card, which

3. Finance

The average cost for a vacation is \$1,050. If a family borrows money for the vacation at an interest rate of 11.9% for 6 months,what is the total cost of the vacation including the interest on the loan?

4. Math.

For question 1-4 for the interest. All rates are annual interest rates. 1) principal, \$400 rate, 5% time, 1 year. a. \$10 b. \$20 c. \$40 d. \$200 2) principal, \$1,000 rate, 8.5% time, 3 years a. \$255 b. \$170 c. \$22.5 d. \$17 3)

1. Math

1. When their child was born, Elaine and Mike Porter deposited \$5,000 in a savings account. The money ears interest at 6 percent compounded quarterly. How much will the account be worth when their child celebrates her second

2. math

Assume a bank loan requires an interest payment of \$85 per year and a principal payment of \$1,000 at the end of the loan's eight-year life. What would be the present value of this loan if it carried an 8.5 percent interest rate?

3. Math

The difference between compound interest and simple interest on a certain principal for two years at 20% rate of interest is Rs. 25. What is the Principal amount ? (Answer with theory)

4. math

1. Shawn Fitzgerald finds a suitable property and agrees upon a selling price of \$137,900. The mortgage company requires a 20% down payment and Shawn chooses to finance the property for 30 years at 8%. What is the total amount of

1. math help please

Sue Stitch buys a sewing machine. The price, including tax, is \$575.00. She finances the sewing machine over 24 months after making a \$25 down payment. The true annual interest rate is 15%. What are Sue's monthly payments

2. Math

Find the interest rate. All rates are annual interest rates. 1. Principle \$400 rate 5% time 1 year A. \$10 B. \$20 C. \$40 D. \$200*** 2. Principle \$1000 rate 8.5% time 3 year A. 255*** B. 170 C. 22.5 D. 17 3. Principle \$200 rate 9%