Mathematics, 28.09.2019 00:30, bbykk6023

The shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs of shoes. the bank charges a simple interest rate of 5% per year on a loan to a business. if it takes 3 years to pay back the loan and interest, what is the total amount of interest that the shoe store will pay? (2 points)
the total amount that the shoe store will pay back to the bank is $2550. i know this because i used i=prt which would then be 17000.053 which would then lead the interest to be $2550.

b) what is the total amount, including interest, that the shoe store must pay on the loan? (2 points)
the total amount will be $19,250. i know this because i did 17,000+2550 to get 19,250.

c) how could you use estimation to determine if your answer is reasonable? explain. (2 points)
just answer c! you

Answers: 2

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 19:00, myalee1419

In trapezoid abcd, ac is a diagonal and ∠abc≅∠acd. find ac if the lengths of the bases bc and ad are 12m and 27m respectively.

Answers: 3

continue

Mathematics, 21.06.2019 20:30, Courtneymorris19

Barney & noblet customers can choose to purchase a membership for $25 per year members receive 10% off all store purchases 1. how much would a member pay per year if he bought $50 worth of items each year? 2. write a slope-intercept equation that expresses how much a member pays per year using x to represent his purchases per year 3. how much would a member have to spend per year to pay off his membership fee?

Answers: 1

continue

Mathematics, 21.06.2019 21:50, lilybrok04

(x-5)1/2+5=2 what is possible solution of this equation

Answers: 1

continue

Mathematics, 21.06.2019 22:50, tali2561

Aclassroom is made up of 11 boys and 14 girls. the teacher has four main classroom responsibilities that she wants to hand out to four different students (one for each of the four students). if the teacher chooses 4 of the students at random, then what is the probability that the four students chosen to complete the responsibilities will be all boys?

Answers: 1

continue

Do you know the correct answer?

The shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs of shoes. the bank c...