Donna borrowed $10, 500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether?

Answers

Answer 1
Question:-

Donna borrowed $10,500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether ?

Answer:-

Given:-

[tex] \bullet [/tex] Principal (P) = $10,500

[tex] \bullet [/tex] Rate of interest (r) = 4%

[tex] \bullet [/tex] Time (t) = 3 years

To Find:-

Interest of Donna and amount of car altogether.

Solution:-

We know,

[tex] { \boxed{\rm \red {I \: = \frac{Prt}{100}}}} [/tex]

[tex] \therefore [/tex] I = [tex] \frac{10,500 \: × \: 4 \: × \: 3}{100} [/tex]

I = [tex] \frac{126,000}{100} [/tex]

I = $1260

Now,

Amount of the car = $ (10,500 + 1260)

= $ 11,760

$1260 interest would Donna pay and $11,760 is the car altogether. [Answer]
Answer 2

Step-by-step explanation:

We know that Interest = Principal×Rate×Time/100

So,

10,500×4×3/100

= 10,500×3/25 (by cancelling 100 by 4)

=31500/25

= 1260

Therefore,

$1260 Answer

hope it helps.....


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