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Marian borrowed money to buy a sound system that costs $450. She is charged 5% simple interest for one year. What is the total amount that she pays for the second system if she pays the full amount in one year?

Verified Answer :

biancamagallanez

5% of $450 is $22.50

Add.
450+22.50

Sum.
472.50 for one years interest.

Answer:

$472.50

Step-by-step explanation:

The simple interest is calculated with

@@MATH_TOKEN_0@@

Where @@MATH_TOKEN_1@@ represents the final amount of money, @@MATH_TOKEN_2@@ is the principal, @@MATH_TOKEN_3@@ is the interest rate in decimal number and @@MATH_TOKEN_4@@ is the time.

So, from the problem, we have @@MATH_TOKEN_5@@

Replacing these values, we have

@@MATH_TOKEN_6@@

This means Marian has to pay $472.50

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