Mary wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate of 2%, charged as simple interest. They lend her $6000 for 3 years. She makes no payments except the one at the end of that time. Answer the following questions. If necessary, refer to the list of financial formulas. (a) How much total interest will Mary have to pay?
(b) What will the total repayment amount be (including interest)? X
Answers
Answer:
a) Simple interest paid = $360
b) Total repayment amount = $6360
Step-by-step explanation:
It is given that:
Principal, P = $6000
Rate of interest, R = 2%
Time, T = 3 years
(a) Total interest paid:
Formula for Simple Interest is given as:
Putting the values of P, R and T to find out Simple Interest:
(b) Total repayment amount:
We know that formula for total amount is given as:
Amount = Principal + Simple Interest
Amount = 6000 + 360 = $6360
So, total repayment amount = $6360
So, the answers are:
a) Simple interest paid = $360
b) Total repayment amount = $6360
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Answers
Answer:
412020
Step-by-step explanation:
It is given that,
6.3% of the 6,540,000 Indiana residents were listed as Hispanic or Latino in 2012. We need to find the no of people for this.
Using the concept of percentage as follows :
Hence, there would be 412020 people.
NO BOTS
Answers
Answer:
10.6
Step-by-step explanation:
you do 7 squared + 8 squared to get 113. the square root of 113 rounded to the nearest tent is 10.6
give me brainliest
Answers
Answer:
i think it might be C
Step-by-step explanation:
Answers
Answer:
Thus, when both S-jams and C-tunes have 20 songs downloaded in a month , the cost will be same.
an expression for the cost of S-Jams $0.99n + $16
Step-by-step explanation:
For
S-Jams
cost of 1 song = $1.29
let there be n songs downloaded in a month
then
cost of n songs = n*cost of 1 song = $1.29n
monthly fee = $10
Total cost of S-Jams = $1.29n+$10
________________________________________
For
C-Tunes
cost of 1 song = $0.99
let there be n songs downloaded in a month
then
cost of n songs = n*cost of 1 song = $0.99n
monthly fee = $16
Total cost for C-Tunes= $0.99n + $16
we have to find When will the company’s plans cost the same.
Total cost of S-Jams = Total cost of C- Tunes
1.29n+10 = 0.99n + 16
=> 1.29n - 0.99n = 16-10
=> 0.30n = 6
=> n = 6/0.3 = 20
Thus, when both S-jams and C-tunes have 20 songs downloaded in a month , the cost will be same.
an expression for the cost of S-Jams $0.99n + $16
Answers
Answer:
10 : 3
Step-by-step explanation:
4km = 4000 m
4000 : 1200 = 4000/1200 = 40/12 = 10/3 = 10 : 3
Answer:
convert 4km into meter.
1200m/4000m
3:10
Find the perimeter of each figure.
Answers
Answer:
3.6
Step-by-step explanation:
stupid idiot you add them up together go back to 4th grade