kaylynnbryner04
contestada

PLEASE HELP!!!! WILL MARK THE BRAINLIST!!!! PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE


a) The shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs of shoes. The bank charges a simple interest rate of 5% per year on a loan to a business. If it takes 3 years to pay back the loan and interest, what is the total amount of interest that the shoe store will pay? (2 points)


b) What is the total amount, including interest, that the shoe store must pay on the loan? (2 points)


c) How could you use estimation to determine if your answer is reasonable? Explain. (2 points)

Respuesta :

musiclover10045

A) 17000*(1+(0.05*3) = 19550

19550-1700 = $2,550 total interest


B)  $19,550 total amount


C) multiply 5 by 3  = 15 than multiply by 17 = 17 * 15 = 255 , then make it a thousands amount by adding a zero at the end

Answer:

A)

p = 17000

r = 5% or 0.05

t = 3

Simple interest formula = p x r x t

Interest paid in 3 years = [tex]17000\times0.05\times3=2550[/tex] dollars

B)

Total amount to be paid = [tex]17000+2550=19550[/tex] dollars

C)

You can first multiply the years and rate that is 5 and 3 to make 15. Then you can multiply by 17. Then put proper decimals as per the values.

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