Prealgebra (7th Edition)

Published by Pearson
ISBN 10: 0321955048
ISBN 13: 978-0-32195-504-3

Chapter 7 - Section 7.6 - Percent and Problem Solving: Interest - Exercise Set: 14

Answer

4972.50 dollars

Work Step by Step

I=PRT P= 4500 dollars R = 14% T = 9 months 9 months =$\frac{9}{12}$ year=$\frac{3}{4}$ year=0.75 year Write 14% as a decimal I=4500$\times$ $\times$ 0.14 $\times$ 0.75 Multiply I= 472.50 dollars The simple interest is 472.50 dollars. total amount = principal + interest total amount= 4500+472.50= 4972.50 dollars Total amount after 9 months will be 4972.50 dollars
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