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Math Assessment 7_09











































Jerry borrowed $600 at 10 percent interest per year, simple interest, for three years.

How much did he have to repay (principal + interest) at the end of the three year period.

Comments for Math Assessment 7_09

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Sep 09, 2013
Principle and Simple Interest
by: Staff


Answer

Part I


simple annual interest

interest = x * i * t

x = amount borrowed = 600

i = annual interest rate in decimal form = 0.1 (10% ÷ 100 = 0.1)

t = number of years = 3

interest = 600 * .1 * 3

interest = 180

repayment of principle and interest

repayment = 600 + 180

repayment = 780


Simple Annual Interest.





Compute Simple Annual Interest: 

      amount borrowed = $600

      annual interest rate = 10% 

      number of years = 3 years






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Sep 09, 2013
Principle and Simple Interest
by: Staff


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Part II


Repayment of principle and interest





Final Answer:  Repayment of principle and interest








Thanks for writing.

Staff
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