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Sagot :
Given:
Principal, P = $27,000
Interest rate, R = 1.9%
Time, T = 4
Let's solve for the following.
(a) What is the interest she must pay?
To find the interest apply the simple interest formula:
[tex]I=\frac{P\ast R\ast T}{100}[/tex]Substitute values into the formula:
[tex]\begin{gathered} I=\frac{27000\ast1.9\ast4}{100} \\ \\ I=\frac{205200}{100} \\ \\ I=2052 \end{gathered}[/tex]Therefore, the interest she must pay is $2,052
(b) What is the total she must pay back?
To find the total she must pay, add the interest and the principal amount.
Total Amount = Principal + Interest
Total Amount = 27000 + 2052 = 29,052
Therefore, the total amount she must pay is $29,052
ANSWER:
(a) $2,052
(b) $29,052
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