marsha waide borrows $9,000 and agrees to pay it back in 2 years. if the simple interest rate is 10% find the total amount she pays back

Respuesta :

The total amount paid by Marsha will be equal to $10800.

What is simple interest?

The amount of interest calculated on the principal amount over a whole year of the loan amount is called simple interest.

Given that:-

  • Marsha waide borrows $9,000 and agrees to pay it back in 2 years. if the simple interest rate is 10%

The total amount will be calculated as:-

SI = (  9000  x  2  x  10  )  /  100

SI = 1800

So total amount will be = 9000  +  1800  = $10800

Therefore the total amount paid by Marsha will be equal to $10800.

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