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dai77
23.10.2021 •
Mathematics
Casey burrows 3200 for a computer system at a rate of 4.25% per year. How much simple interest will he owe if he takes 4 months to repay the loan? Round to the nearest cent.
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Ответ:
$45.33
Step-by-step explanation:
First we find 4.25% of $3200 to find the interest in 1 year.
For simple interest, use this formula:
I = Prt
where
I = amount of interest
P = principal amount (the amount deposited or borrowed)
r = annual interest rate
t = number of years
We have
I = ?
P = $3200
r = 4.45% = 0.425
t = 1 year
I = ($3200)(0.0425)(1)
I = $136
The interest in 1 year is $136.
Now we convert 4 months to years
1 year = 12 months
4/12 = 1/3
4 months are only 1/3 of a year, so he pays only 1/3 of the interest of an entire year.
1/3 * $136 = $136/3 = $45.3333...
$45.33
Ответ:
3 + 2t = 15