CaptianKaz CaptianKaz

27-10-2020
Mathematics

contestada

Jamie borrowed $361.75 from his uncle,
who has agreed to charge him a monthly
simple interest rate of 2.5%. Jamie pays
his uncle back in 7 months.

Respuesta :

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27-10-2020

Answer:

Jamie will pay back a total of 370.79

Step-by-step explanation:

361.75 x 1.025

Simple interest is not compounded so just multiply the borrowed amount by

1 + .025

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