noobmaster6951
noobmaster6951 noobmaster6951
  • 23-01-2020
  • Mathematics
contestada

Jim gets a simple interest loan for $1500 for 2 years and has 7.5% interest. How much does he pay in total for his loan including interest?

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ZaneRussum
ZaneRussum ZaneRussum
  • 24-01-2020

Answer:

$17225

Step-by-step explanation:

convert percent values to decimals

7.5/100=.075

plug into equations where x=total interest and y is total loan pay

1500*.075*2=x

1500+x=y

solve equation 1

1500*.075*2=x

225=x

solve equation 2 now that we know total interest

1500+225=y

17225

(i would appreciate a thanks and rating my boy)

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