KRLoopy4722
06.05.2020 •
Mathematics
Susan borrowed $700 from a bank that charges simple interest at a rate of 12% .She borrowed this money for 2 years
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Ответ:
The interest on the loan is $168
The principal plus interest is $868
Step-by-step explanation:
The interest on the amount is given by the formula below:
I=PRT
I is the interest on the loan,which is the unknown
P is the actual amount borrowed known as the principal which is $700
T is the duration of the loan in years which is years
R is the rate of interest on the loan which is 12% annually
I=$700*12%*2
I=700*0.12*2=$168
In other words,by borrowing $700 ,Susan would pay back the $700 plus $168 interest,which totals $868 in two years time
Ответ:
Simple Interest $168
Compound interest $178
Step-by-step explanation:
Simple Interest is calculated by multiplying the the principal amount, interest rate per period and numbers of period.
Formula
I = Prt
I = Interest amount
P = Principal = $700
r = interest rate = 12% per year
t = time period = 2 years
I = $700 x 12% x 2 Year
I = $168
In Compounding the interest is reinvested to earn the interest on reinvested amount. Accumulated value of each period is reinvested. Compound interest is the interest on interest value.
Formula for compounding interest is as follow
A = P ( 1 + r )^t
A = Compounded Value
P = Principal = $700
r = interest rate = 12% per year
t = time period = 2 years
Placing values in the formula
A = $700 x ( 1 + 12% )^2
A = $878
Compound Interest = Compounded Value - Principal value = $878 - $700 = $178
Ответ:
$42.43
Step-by-step explanation:
We are given that
Cost of of candy=$7.50
We have to find the cost of of candy.
Cost of 1 kg=
Cost of of candy=$
Cost of of candy=$42.43
Hence, cost of of candy=$42.43