Savings Account. Christine Chu borrowed $4500 from a bank at a simple interest rate of 2.5% for one year. a) Determine how much interest Christine paid at the end of 1 year.
b) Determine the total amount Christine will repay the bank at the end of 1 year

$112.50 ; $4612.5

Step-by-step explanation:

a) Determine how much interest Christine paid at the end of 1 year.

This will be:

Simple interest = PRT/100

where

P = principal = $4500

R = rate = 2.5%

T = time = 1 year

Interest = (4500 × 2.5 × 1)/100

= 11250/100

= $112.50

b) Determine the total amount Christine will repay the bank at the end of 1 year.

Total amount = Principal + Interest

= $4500 + $112.50

= $4612.5

step-by-step explanation:

you can add the two numbers and divide the result by 2. or you can find the gap between the two numbers and add half of this to the smaller number.

answer: 177/8

step-by-step explanation: