Respuesta :
Answer:
a) $1,920
b) $9,920
Explanation:
Step 1. Gather all of the information.
The amount borrowed will be the principal or starting amount P:
[tex]P=8,000[/tex]The interest rate will be r:
[tex]r=4\text{ percent}[/tex]We will need the interest rate in decimal form, for that, divide the percentage amount by 100:
[tex]\begin{gathered} r=\frac{4}{100} \\ \downarrow \\ r=0.04 \end{gathered}[/tex]And the time of the loan is 6 years, this will be the value of t:
[tex]t=6[/tex]Step 2. To solve part a, we use the following formula to calculate the interest:
[tex]I=p\times r\times t[/tex]Substituting all of the known values:
[tex]I=8,000\times0.04\times6[/tex]The result is:
[tex]I=1,920[/tex]The total interest that Karen will have to pay is $1,920.
Step 3. To solve part b, we need to find the total repayment amount.
To find this, we add the interest and the principal amount:
[tex]T=P+I[/tex]Where T represents the total amount.
Substituting P and I:
[tex]\begin{gathered} T=8,000+1,920 \\ \downarrow \\ T=9,920 \end{gathered}[/tex]The total amount she will have to repay is $9,920.
Answer:
a) $1,920
b) $9,920
