mr brown borrowed $5,340 from a bank at 10% aunnum simplr interest for 9 years. the sum of the money paid in interest to the bank and the total amount of money repaid to the bank
To calculate the sum of the money paid in interest to the bank and the total amount repaid to the bank, we will need to find two values: the interest paid and the total amount repaid.
First, let's calculate the interest paid:
Interest = Principal x Rate x Time
Here, the principal is $5,340, the rate is 10% (which can be written as 0.10), and the time is 9 years.
Interest = $5,340 x 0.10 x 9
Interest = $5,340 x 0.90
Interest = $4,806
So, the interest paid to the bank is $4,806.
Now we can calculate the total amount repaid:
Total amount repaid = Principal + Interest
Total amount repaid = $5,340 + $4,806
Total amount repaid = $10,146
Therefore, the sum of the money paid in interest to the bank and the total amount repaid to the bank is $4,806 (interest) + $10,146 (total amount repaid) = $14,952.