Question

Somebody please help me with this math question and I’ll give you 26 points please if you are going to submit links do not answer me thank you

Answer 1

Answer:

$600

Step-by-step explanation:

Simple Interest Rate: A = P(1 + RT)

A       $\longmapsto$     Total Value

P       $\longmapsto$     Principle

R       $\longmapsto$     Rate

T       $\longmapsto$     Time

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Step 1: Insert Values

Let's plug the info we have into the formula:

A = 4000(1 + 0.05(3))

A = 4000 + 4000(0.15)

A = 4000 + 600

A = 4600

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Step 2: Finding the Interest

So the total value she ends up with $4600, but we want to find the extra value, or interest, she has to pay.

To find this we subtract the principle from the new value:

4600 - 4000 = 600

Liz has to pay $600.

-Chetan K