Ask Question
16 June, 19:29

Dan borrowed $865.00 from his brother who is charging him 8% simple interest. If Dan pays his brother back in 6 months, how much does he have to pay back including the interest?

a) 415.20

b) 34.60

c) 1,280,20

d) 899.60

0
Answers (1)
  1. 16 June, 21:04
    0
    First, converting R percent to r a decimal

    r = R/100 = 8%/100 = 0.08 per year.

    Putting time into years for simplicity,

    6 months / 12 months/year = 0.5 years.

    Solving our equation:

    A = 865 (1 + (0.08 * 0.5)) = 899.6

    A = $899.60

    The total amount accrued, principal plus interest, from simple interest on a principal of $865.00 at a rate of 8% per year for 0.5 years (6 months) is $899.60.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Dan borrowed $865.00 from his brother who is charging him 8% simple interest. If Dan pays his brother back in 6 months, how much does he ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers