jillybean171
jillybean171 jillybean171
  • 04-01-2017
  • Mathematics
contestada

Aaron borrowed $500 at 16% annual interest rate for 12 months under an add-on-plan. How much does he have to repay?

Respuesta :

jakannaking2299
jakannaking2299 jakannaking2299
  • 04-01-2017
You just gotta figure out what 16% of 500 is.
500 * .16 = 80
Aaron must repay $80.
Answer Link
cg2929
cg2929 cg2929
  • 04-01-2017
Actually he needs to repay $580 as he still has to repay the initial $500 but now also the $80 he accrued in interest.
Answer Link

Otras preguntas

Metric prefix name for 1/100 ?
Starting from rest, a runner at a track meet reaches a speed of 7.5 m/s in 1.7 s. How far does she run during this time, assuming her acceleration is uniform?
PLEASE HELP! What is the mean of the following numbers: 4, 6, 3, 3, 5, 3, 4? A. 28 B. 4 C.3 D.5 Worth 99 points , if that matters.
Explain how legalized segregation deprived african Americans of their rights as citizens
the speed of lightin a vacuum is 2.998 x 10^8 m/s. what is its speed in kilometters per hour?
What does is mean when someone says a song reminds you of them?
Which of the following concepts does the image above best illustrate? A. City growth is cyclical, and cities with resources continue to grow. B. Although resour
Solving equations 6x+7=8x–13
Two people bought 48 oranges pat bought five times as many as chris. how many oranges did chris buy
which of the following is not an intensive physical property?A magnetism,B boiling point,C thermal conductivity,D volume