Hey yall who see this i need some help on my math homework so can someone please help a girl out here
i am in 7th grade yall
i need to know what these are using p=irt
Deb borrows $3190 at 2.9% simple interest per month. When Deb pays the loan back 5 years later, what is the total amount that Deb ends up repaying?
Ian borrows $3580 at 31% simple interest per year. When Ian pays the loan back 7 years later, how much interest does Ian pay?
Zach borrows $1910 at 2.6% simple interest per month. When Zach pays the loan back 3 years later, how much interest does Zach pay?
Craig borrows $1000 at 9% simple interest per year. When Craig pays the loan back 11 years later, what is the total amount that Craig ends up repaying?
Larry borrows $1300 at 5% simple interest per month. When
Larry pays the loan back 3 years later, what is the total amount that Larry ends up repaying?
Fred borrows $40 at 0.8% simple interest per month. When Fred pays the loan back 2 years later, how much interest does
Problems are all the same. I will do first one.
$3190 at 2.9% simple interest per month
every month you pay 0.029 * 3190 = 92.51
5 years = 5*12 = 60 months
60 * 91.51 = 5550.60 interest
so
pay back original plus interest
= 3190 + 5550.60 = 8740.60
Thank you sugar
To find the total amount repaid in each scenario using the formula p=irt, we can follow these steps:
1. Deb:
- Principal (p): $3190
- Interest rate (r): 2.9% per month
- Time (t): 5 years (since the interest rate is given per month, we'll convert the time to months)
Total amount repaid (A) = Principal (p) + [Principal (p) * Interest rate (r) * Time (t)]
Total amount repaid (A) = $3190 + [$3190 * (2.9/100) * (5 * 12)]
2. Ian:
- Principal (p): $3580
- Interest rate (r): 31% per year
- Time (t): 7 years
Total interest paid = Principal (p) * Interest rate (r) * Time (t)
3. Zach:
- Principal (p): $1910
- Interest rate (r): 2.6% per month
- Time (t): 3 years
Total interest paid = Principal (p) * Interest rate (r) * Time (t)
4. Craig:
- Principal (p): $1000
- Interest rate (r): 9% per year
- Time (t): 11 years
Total amount repaid (A) = Principal (p) + [Principal (p) * Interest rate (r) * Time (t)]
5. Larry:
- Principal (p): $1300
- Interest rate (r): 5% per month
- Time (t): 3 years
Total amount repaid (A) = Principal (p) + [Principal (p) * Interest rate (r) * Time (t)]
Total amount repaid (A) = $1300 + [$1300 * (5/100) * (3 * 12)]
6. Fred:
- Principal (p): $40
- Interest rate (r): 0.8% per month
- Time (t): 2 years
Total interest paid = Principal (p) * Interest rate (r) * Time (t)
Please let me know if you need the numerical calculations for each scenario.
To solve these problems, we can use the formula for simple interest: I = P * r * t, where I is the interest, P is the principal amount (the money borrowed), r is the interest rate per time period, and t is the total number of time periods.
Let's apply this formula to each problem:
1. Deb borrows $3190 at 2.9% simple interest per month. After 5 years, the total number of months is 5 * 12 = 60 months. So, P = $3190, r = 2.9% = 0.029, and t = 60 months. Plugging the values into the formula, we get: I = 3190 * 0.029 * 60. Thus, Deb ends up repaying the loan amount + interest: $3190 + 3190 * 0.029 * 60.
2. Ian borrows $3580 at 31% simple interest per year. After 7 years, t = 7 years. So, P = $3580, r = 31% = 0.31, and t = 7 years. Plugging the values into the formula, we get: I = 3580 * 0.31 * 7. Thus, Ian pays the interest amount: 3580 * 0.31 * 7.
3. Zach borrows $1910 at 2.6% simple interest per month. After 3 years, the total number of months is 3 * 12 = 36 months. So, P = $1910, r = 2.6% = 0.026, and t = 36 months. Plugging the values into the formula, we get: I = 1910 * 0.026 * 36. Thus, Zach pays the interest amount: 1910 * 0.026 * 36.
4. Craig borrows $1000 at 9% simple interest per year. After 11 years, t = 11 years. So, P = $1000, r = 9% = 0.09, and t = 11 years. Plugging the values into the formula, we get: I = 1000 * 0.09 * 11. Thus, Craig ends up repaying the loan amount + interest: $1000 + 1000 * 0.09 * 11.
5. Larry borrows $1300 at 5% simple interest per month. After 3 years, the total number of months is 3 * 12 = 36 months. So, P = $1300, r = 5% = 0.05, and t = 36 months. Plugging the values into the formula, we get: I = 1300 * 0.05 * 36. Thus, Larry ends up repaying the loan amount + interest: $1300 + 1300 * 0.05 * 36.
6. Fred borrows $40 at 0.8% simple interest per month. After 2 years, the total number of months is 2 * 12 = 24 months. So, P = $40, r = 0.8% = 0.008, and t = 24 months. Plugging the values into the formula, we get: I = 40 * 0.008 * 24. Thus, Fred pays the interest amount: 40 * 0.008 * 24.
By applying the formula for simple interest, you can calculate the total amount repaid or the interest paid in each scenario.