Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10:
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Chapter 6 - Percent - 6.7 Simple Interest - 6.7 Exercises - Page 448: 49

Answer

The total owed is $3,258.50.

Work Step by Step

The cost of the bird cages is $4\times980=3920$ dollars. 70% of the cost was borrowed so the principle is $3920\times0.7=2744$= dollars. interest = principle * rate * time $i=(2744)(0.075)(2.5) = (205.80)(2.5)= 514.50$ total owed=principle+interest $t=2744+514.50=3258.50$
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