anonymous
  • anonymous
Mindy has been waiting for a particular computer to go on sale, and she has already saved $275. After sales tax, the price of the computer is $740.94. Mindy borrows the remaining amount from her older sister at a simple interest rate of 4% per year and agrees to pay the entire loan back all at once at the end of 1.5 years. How much will Mindy have to pay her sister for the loan, including interest?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
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Mertsj
  • Mertsj
How much did she borrow from her sister?
Mertsj
  • Mertsj
would love to help you if you would just answer me.
anonymous
  • anonymous
465.94

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Mertsj
  • Mertsj
Find the interest by using the formula I = Prt
Mertsj
  • Mertsj
P is the amount she borrowed. $465.94 r is the interest rate which is 4% or .04 t is the time which is 1.5 I=465.94(.04)(1.5) How much interest does she have to pay her sister?
anonymous
  • anonymous
.4 a year
Mertsj
  • Mertsj
Interest=465.94(.04)(1.5)
Mertsj
  • Mertsj
How much interest does she have to pay her sister? Did you read my previous post?
anonymous
  • anonymous
27.9564
Mertsj
  • Mertsj
Since this is money, that would be 27.96. So how much did she borrow from her sister? I forget.
anonymous
  • anonymous
465.94
Mertsj
  • Mertsj
So she has to pay that all back. Plus she has to pay the interest. So how much does she have to pay her sister at the end of 1.5 years in order to pay off the loan?
anonymous
  • anonymous
493.5?
Mertsj
  • Mertsj
I got 493.90
Mertsj
  • Mertsj
465.94+27.96

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