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: 15

Answer

14,280 dollars

Work Step by Step

I=PRT P= 8500 dollars R = 17% T = 4 years 9 months =$\frac{9}{12}$ year=$\frac{3}{4}$ year=0.75 year Write 17% as a decimal I=8500$\times$ $\times$ 0.17 $\times$ 4 Multiply I= 5780 dollars The simple interest is 5780 dollars. total amount = principal + interest total amount = 8500+5780= 14280 dollars Total amount after 9 months will be 14,280 dollars
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