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HEY GUYS I HAVE ANOTHER QUESTION I DONT UNDERSTAND AND I ONLY HAVE 30 MINUTES!! ill give brainiest and points. TYSM

Question on image too!

Your friend has borrowed $650 from a bank. Calculate the simple interest in the following situations:

What would the total interest be if he hasn’t paid any of his loan back in 4 years and the annual rate is 8%?



What is the total amount owing if he hasn’t paid any of his loan back in 4 years?



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What would be the total simple interest be if he paid $150 a year (at the END of the year) for those 4 years at an annual rate of 8%?

HEY GUYS I HAVE ANOTHER QUESTION I DONT UNDERSTAND AND I ONLY HAVE 30 MINUTES ill give brainiest and points TYSM Question on image too Your friend has borrowed class=

Respuesta :

Answer:

See below

Step-by-step explanation:

4 years simple interest at  .08  interest

  650  *  .08   *  4 =  $ 208  in interest

       his total amount owed will be this PLUS the amount he borrowed

            208 + 650 = 858 dollars

IF he pays 150 back at the end of each year

   First year    650 * 1.08  - 150 = 552 owed      interest = 52

     Second year   552 * 1.08 - 150 = 446.16       interest = 44.16

      third year   446.16 * 1.08 - 150 =  331.85      interest = 35.69

       fourth year   331.85 * 1.08 - 150 = 208.40  interest = 26.55

                           total interest after 4 years = 158.40  

                                       (and he still owes 208.40)

   

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