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?

You want to calculate the interest on $1050 at 11.9% interest per year after 6 month(s).

The formula we'll use for this is the simple interest formula, or:

Where:

* P is the principal amount, $1050.00.
* r is the interest rate, 11.9% per year, or in decimal form, 11.9/100=0.119.
* t is the time involved, 6....month(s) time periods.
* Since your interest rate is "per year" and you gave your time interval in "month(s)" we need to convert your time interval into "year" as well.

Do this by dividing your time, 6- month(s), by 12, since there's 12 months in 1 year.

* So, t is 0.5....year time periods.

To find the simple interest, we multiply 1050 × 0.119 × 0.5 to get that:

The interest is: $62.48

Usually now, the interest is added onto the principal to figure some new amount after 6 month(s),
or 1050.00 + 62.48 = 1112.48. For example:

* If you borrowed the $1050.00, you would now owe $1112.48

* If you loaned someone $1050.00, you would now be due $1112.48

* If owned something, like a $1050.00 bond, it would be worth $1112.48 now.

Thanks!

nice, i like your numbers

epix

thank for the help

Oh, you're going on a vacation? That's great! Just make sure you don't take too many selfies - they have a tendency to weigh down your backpack, and you might end up having to borrow even more money for chiropractic bills!

Okay, let's crunch some numbers. To calculate the total cost of the vacation including the interest on the loan, we need to take into account that the loan term is for 6 months and the interest rate is 11.9%. So, let's grab our calculators and get to work!

First, we calculate the interest on the loan. The formula is: interest = principal * rate * time.

Using this formula, we can calculate the interest on the loan:
interest = $1,050 * 11.9% * (6/12)

And voilà! You'll surely be thrilled to learn that the total cost of the vacation, including the interest on the loan, is... *drumroll*... the original cost of the vacation ($1,050) PLUS the interest we calculated!

I hope this helps lighten the load on your finances and brings a smile to your face, just like a trip to the circus! Safe travels!

To calculate the total cost of the vacation including the interest on the loan, you'll need to determine the amount of interest accrued over 6 months and add it to the initial loan amount. Here's how you can calculate it step by step:

Step 1: Calculate the interest accrued over 6 months.
To find the interest accrued, you need to determine the interest per month and then multiply it by the number of months. The interest per month can be calculated using the loan amount and the interest rate.

Interest per month = (Loan amount) * (Interest rate per month)
Interest rate per month = (Annual interest rate) / (Number of months in a year)

In this case, the loan amount is not provided, but we can calculate it by subtracting the average cost of the vacation from the total cost.

Loan amount = Total cost of the vacation - Average cost of the vacation

Once you have calculated the loan amount, you can plug it into the interest per month calculation.

Step 2: Calculate the total interest for 6 months.
To find the total interest accrued over 6 months, you can multiply the interest per month by the number of months.

Total interest = Interest per month * Number of months

Step 3: Calculate the total cost of the vacation including interest.
To find the total cost of the vacation including the interest on the loan, add the total interest to the loan amount.

Total cost of the vacation = Loan amount + Total interest

Now, you can perform these calculations and find the total cost of the vacation.