Question

A student borrows

​$3000

at

15

​%

for

9

months to pay tuition. Find the total amount due using simple interest.

Answer 1

Answer:

$ 3375.50

Step-by-step explanation:

amount borrowed will be Principal P= $3000

rate percent r = 15% which is equal to 15/100= 0.15

time t= 9 months and in years is equal to 9/12= 0.75 years

total amount due at simple interest is given by

A= P(1+rt)

now putting the values we get  

A= 3000(1+ 0.15*0.75)

on calculating we get

total amount due at simple interest= $ 3375.50

Answer 2

The total amount due using simple interest is $337.50.

What is the total amount due?

The total amount due is the sum of the amount borrowed and the simle interest. Simple interest is when the interest rate is applied only to the amount deposited.

The total amount due = simple interest + amount deposited

Simple interest = deposit x time x interest rate

$3000 + (3000 x 0.15 x 9/12) = $337.50

To learn more about interest, please check: brainly.com/question/26164549