Tony took out a loan for 7000 that has a intrest rate of 7.5% compounded annually after 15 years how much will the total loan amount be After 15 years how much will tony pay in intrest

Answer is in the file below

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$7875

Step-by-step explanation:

Interest is calculated by the formula: I = Prt

I (interest)

P (principle)

r (rate)

t (time)

Substitute

I = (7000)(0.075)(15)

I = 7875

Thus, our interest is $7875

$3720

step-by-step explanation:

taxable income = $31000

as per the 2018-2019 us tax bracket, the tax rate is 12% for an individual whose taxable income is between $9,526 to $38,700.

so, the tax to be paid by him = 12% of 31000

= 0.12 * 31000     [12% converted to decimal as 0.12]

= $3720

0.85% : )

step-by-step explanation: