Question

Adam borrowed $5,600 from the bank. The bank charges 4.2% simple interest each year.Which equation represents the amount of money in dollars, x, Adam will owe in one year, if no payments are made?
Responses
x=5,600+5,600(0.042)(12)

x=5,600+5,600(0.042)(1)


x=5,600+5,600(42)(12)

x=5,600(42)(1)

Answer 1

To determine the amount of money Adam will owe after one year with simple interest, we can use the formula for simple interest:

\[
I = P \times r \times t
\]

Where:
- \(I\) is the interest
- \(P\) is the principal amount (the initial amount borrowed)
- \(r\) is the interest rate (as a decimal)
- \(t\) is the time (in years)

In this case:
- \(P = 5600\) dollars
- \(r = 0.042\) (which is 4.2% expressed as a decimal)
- \(t = 1\) year

First, we calculate the interest for one year:

\[
I = 5600 \times 0.042 \times 1 = 235.2
\]

Now, to find the total amount \(x\) that Adam owes after one year, we add the interest to the principal:

\[
x = P + I = 5600 + 235.2 = 5835.2
\]

Thus, the equation that represents the amount of money Adam will owe in one year, if no payments are made, is:

\[
x = 5600 + 5600(0.042)(1)
\]

Looking at the options you provided, the correct choice is:

**x = 5,600 + 5,600(0.042)(1)**