MR. Watch loaned $12450 from a bank at 8.5% per annum simple interest for 6 years calculate: (B) the total amount of money repaid

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1. Reminder:

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   Answer:

   Total amount to be paid is $18799.5

   Step-by-step explanation:

   principle=$12450

   rate of interest per annum=8.5%

   time period = 6 years

   as mentioned above

   total amount = principle + simple interest

   = 12450+S.I.

   ⇒simple interest formulae =[tex]\frac{p*r*t}{100}[/tex]

   =[tex]\frac{12450*8.5*6}{100}[/tex]

   =[tex]\frac{105825*6}{100}[/tex]

   =[tex]\frac{634950}{100}[/tex]

   =6349.50

   so simple interest paid = $6349.50

   to find the total amount=principle +s.i.( as mentioned above//)

   =$12450+6349.50

   =$18799.5

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