MR. Ricky borrowed $5340 from a bank at 9.5% per annum simple interest for 5 years determine: (B) the total amount of money repaid to the bank. About the author Ruby
Reminder: pls mark me as brainliest if you are satisfied Answer: $7876.5 Step-by-step explanation: principle = $5340 rate = 9.5% Time = 5 years as given above Total amount = simple interest + principle already we know that principle is 5340 so we need to find simple interest (S.I) simple interest = PTR/ = 5340 × 5 × 9.5 / 100 = 2536.5 principle = 5340 simple interest = 2536.5 Total amount repaid to the bank = principle + simple interest = 5340 + 2536.5 =$7876.5 Reply
Step-by-step explanation: principle = 5340 rate = 9.5% Time = 5 years Total amount = simple interest + principle already we know that principle is 5340 so we need to find simple interest (S.I) simple interest = PTR/ = 5340 × 5 × 9.5 / 100 = 2536.5 principle = 5340 simple interest = 2536.5 Total amount repaid to the bank = principle + simple interest = 5340 + 2536.5 =7876.5 Hope this is helpful. Reply
Reminder:
pls mark me as brainliest if you are satisfied
Answer:
$7876.5
Step-by-step explanation:
as given above
Total amount = simple interest + principle
already we know that principle is 5340
so we need to find simple interest (S.I)
simple interest = PTR/
= 5340 × 5 × 9.5 / 100
= 2536.5
principle = 5340
simple interest = 2536.5
Total amount repaid to the bank
= principle + simple interest
= 5340 + 2536.5
=$7876.5
Step-by-step explanation:
Total amount = simple interest + principle
already we know that principle is 5340
so we need to find simple interest (S.I)
simple interest = PTR/
= 5340 × 5 × 9.5 / 100
= 2536.5
principle = 5340
simple interest = 2536.5
Total amount repaid to the bank
= principle + simple interest
= 5340 + 2536.5
=7876.5
Hope this is helpful.