17. Find the simple interest and the total amount including interest.

Question

Simple Interest Total Amount
P = $5,050 I = 7% t = 4 ____________ ______________
P = $13000 I = 4% t = 4.5 _____________ _______________

Anne borrowed $4700 from a bank that charges 10% simple interest. If she repays the loan in 21/2 years, how much will she have to pay back? ___________________

Answer 1

To find the simple interest, we can use the formula I = P * r * t, where I is the interest, P is the principal, r is the interest rate, and t is the time in years.

For the first question:
P = $5,050, r = 7%, and t = 4 years
I = 5050 * 0.07 * 4 = $1,414
Total Amount = P + I = 5050 + 1414 = $6,464

For the second question:
P = $13,000, r = 4%, and t = 4.5 years
I = 13000 * 0.04 * 4.5 = $2,340
Total Amount = P + I = 13000 + 2340 = $15,340

For the third question:
P = $4,700, r = 10%, and t = 2.5 years
I = 4700 * 0.1 * 2.5 = $1,175
Total Amount = P + I = 4700 + 1175 = $5,875

So, Anne will have to pay back $5,875.

Answer 2

17. Find the simple interest and the total amount including interest.
Simple Interest Total Amount
a. P = $5,050 I = 7% t = 4 ____________ ______________
b. P = $13000 I = 4% t = 4.5 _____________ _______________

Answer 3

a. For the first scenario:
P = $5,050, r = 7%, and t = 4 years

Using the formula I = P * r * t, we have:
I = 5050 * 0.07 * 4 = $1,414

The total amount is the principal plus the interest:
Total Amount = P + I = 5050 + 1414 = $6,464

b. For the second scenario:
P = $13,000, r = 4%, and t = 4.5 years

Using the formula I = P * r * t, we have:
I = 13000 * 0.04 * 4.5 = $2,340

The total amount is the principal plus the interest:
Total Amount = P + I = 13000 + 2340 = $15,340