Respuesta :

daoudmirza2018

Answer:

36

Step-by-step explanation:

you need to do 5% * 6 years of interest

to get 30% interest for all the years. then you do

30% of 120 or 120*0.3 to get your answer 36

Using simple interest, it is found that you will pay $36 in interest.

The amount of money after t years in simple interest is modeled by:

[tex]A(t) = A(0)(1 + rt)[/tex]

In which:

  • A(0) is the initial amount.
  • r is the interest rate, as a decimal.

In this problem:

  • $120 borrowed, hence [tex]A(0) = 120[/tex].
  • Rate of 5%, hence [tex]r = 0.05[/tex].
  • 6 years, hence [tex]t = 6[/tex]

The amount paid is:

[tex]A(6) = 120[1 + 0.05(6)] = 120(1.3) = 156[/tex]

$156 is paid, being $120 borrowed and 156 - 120 = $36 in interest.

A similar problem is given at https://brainly.com/question/13176347

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