Mathematics: Taylor plans to borrow $4500 from the bank to purchase a used vehicle if he borrows the money at the rate of 4% interest for two years what is the total amount we will have to pay back to the bank

Taylor plans to borrow $4500 from the bank to - id450010319363, karyvillanuevap5w9ym

rexard

16.03.2022

$ 4860

Step-by-step explanation:

Formula : Amount = P (1+rt) , P = principal value , r= rate of interest , t= time

Given ; P= $4500 , r = 4% = 0.04 , t = 2years

Total amount we will have to pay back to the bank = $4500(1+0.04\times 2)$

$=4500(1+0.08)\\\\=4500(1.08)\\\\=\$ 4860$

Hence, the total amount we will have to pay back to the bank = $ 4860

0,0(0 оценок)

katiepotter

06.02.2020

tep-by-step explanation:

0,0(0 оценок)