Find the total amount of money (maturity value) that the borrower will pay back on a loan of $1 comma 760 at 13 and one half % simple interest for 10 years.

The borrower will pay back $4,136.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

.

In this question:

Loan amount of 1760, so

Interest rate of 13 and one half, so 13.5%. This means that .

10 years, so

Interest on the Loan:

Total amount:

The borrower will pay back $4,136.

describing distributions is one of the key skills you’ll need to earn a high score on the ap statistics exam. if you need proof of this, just flip through some past exam questions, which can be found at the collegeboard website. you’ll notice that the first free response question is almost always a question requiring you to look at a graph and describe it.

step-by-step explanation: just trying to get points sorry : (