anonymous
  • anonymous
Marsha Waide borrows $7,500 and agrees to pay it back in 3 years. If the simple interest rate is 10% find the total amount she pays back
Linear Algebra
  • Stacey Warren - Expert brainly.com
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SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
schrodinger
  • schrodinger
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anonymous
  • anonymous
ok do you know the simple interest formula?
anonymous
  • anonymous
no I dont
anonymous
  • anonymous
ok the formula is I= PRT

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anonymous
  • anonymous
I equals the interest in money in dollars which we are trying to find correct?
anonymous
  • anonymous
@tmunoz do u need help or not?
anonymous
  • anonymous
yes please
anonymous
  • anonymous
ok then follow along
anonymous
  • anonymous
Ok so the p stands for the starting money based on the problem how much was that?
anonymous
  • anonymous
@tmunoz hello?
anonymous
  • anonymous
$7.500 right?
anonymous
  • anonymous
yes correct but its a comma not a period. Ok so the next part of the equation is R which is the rate in years which is what based on the problem?
anonymous
  • anonymous
3 years right?
anonymous
  • anonymous
Good. and the last part is R( sorry in the last comment i meant to say T which stands for time) is the rate in decimal form
anonymous
  • anonymous
10%
anonymous
  • anonymous
yep now we have to put it in decimal form though... do you know hoe to make a percent a decimal?
anonymous
  • anonymous
is it 0.1?
anonymous
  • anonymous
Good! Alright so now we have all the parts to out equation... which is now 7,500 times 3 times 0.1... Multiply them all to find I or the interest rate
anonymous
  • anonymous
the answer is 2,250
anonymous
  • anonymous
got it thanks ;)
anonymous
  • anonymous
no problem hope you understand now
anwaarullah
  • anwaarullah
105 interest *3=30 %=.30 .30*7500=2250 p+i=total amount 2250+7500

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