Question

Claudia requested a loan of $2,500,000 to finance her studies over a 3-year period. How much will she have to pay at the end of the period if the interest rate obtained was 15% simple annual?

112

likes

561 views

Answer to a math question Claudia requested a loan of $2,500,000 to finance her studies over a 3-year period. How much will she have to pay at the end of the period if the interest rate obtained was 15% simple annual?

$Expert avatar$

Jayne

4.4

106 Answers

To determine how much Claudia will have to pay at the end of the 3-year period, we'll use the formula for simple interest:

I = P \cdot r \cdot t

Where:

P = \$2,500,000

r = 0.15

t = 3

First, calculate the interest:

I = \$2,500,000 \cdot 0.15 \cdot 3

I = \$1,125,000

Next, calculate the total amount to be paid:

A = P + I

A = \$2,500,000 + \$1,125,000

A = \$3,625,000

Therefore, the amount she will have to pay at the end of the period is:

A = \$3,625,000

Frequently asked questions (FAQs)

Math question: In a circle, if two chords AB and CD intersect at point E, and AE = 6 units, EB = 4 units, CE = 5 units, find the length of DE.

Math question: What is the mean of the given set of numbers: 12, 8, 15, 10, 8, 17, 12, 8, 15?

What is the value of pi radians when converting 180 degrees?

New questions in Mathematics

Students Ana Beatriz and Paula decided to register on a website with exercises to study for upcoming simulations, but to register on this website, they need to choose a password consisting of five characters, three numbers and two letters (capital letters). or lowercase). Letters and numbers can be in any position. They know that the alphabet is made up of twenty-six letters and that an uppercase letter differs from a lowercase letter in a password. What is the total number of possible passwords for registering on this site?

Hey👋🏻 Tap "Create New Task" to send your math problem. One of our experts will start working on it right away!

431414-1*(11111-1)-4*(5*3)

In a random sample of 600 families in the Metropolitan Region that have cable television service, it is found that 460 are subscribed to the Soccer Channel (CDF). How large a sample is required to be if we want to be 95% confident that the estimate of “p” is within 0.03?

Consider numbers from 1 to 2023. We want to delete 3 consecutive, so that the avarage of the left numbers is a whole number. How do we do that

Two events E and F are ________ if the occurrence of event E in a probability experiment does not affect the probability of event F.

Suppose a large shipment of cell phones contain 21% defective. If the sample of size 204 is selected, what is the probability that the sample proportion will differ from the population proportion by less than 4% round your answer to four decimal places

Equivalent expression of the sequence (3n-4)-(n-2)

A regional candy factory sells a guava roll at a price of $48, the monthly fixed costs amount to $125,000 and the variable cost for making a guava roll is $28. Determine: a) The equation of the total income from the production of guava rolls.

There are four times as many roses as tulips in Claire’s garden. Claire picked half of the number of roses and 140 roses were left in the garden. How many roses and tulips were in the Garden the first?

solve for x 50x+ 120 (176-x)= 17340

89, ÷ 10

Your boss asks you to plan the sample size for a randomized, double-blind, controlled trial in the clinical development of a cure for irritable bowl disease. Current standard treatment shall be compared with a new treatment in this trial. The S3-guideline of AWM demonstrated a mean change of the summary score of the validated health related quality of life questionnaire at 8 weeks of 16 with standard deviation 23 under standard treatment. You quote the drop-out rate of 11% from literature (previous phase of clinical development). Your research yielded a clinically important effect of 4 that has been found to be the Minimal Clinically Important Difference (MCID). In order to demonstrate superiority of the new treatment over standard of care, you assume that the change in of the summary score of the validated health related quality of life questionnaire follows a normal distribution, and that the standard deviation is the same for both treatments. How many patientes would one need to recruit for the trial to demonstrate the clinically interesting difference between treatments at significance level 5% with 95% power?

The following table shows the frequency of care for some animal species in a center specializing in veterinary dentistry. Species % Dog 52.8 Cat 19.2 Chinchilla 14.4 Marmoset 6.2 Consider that the center only serves 10 animals per week. For a given week, what is the probability that at least two are not dogs? ATTENTION: Provide the answer to exactly FOUR decimal places

The two sides of the triangle are 12 cm and 5 cm, and the angle between the sides is 60°. Cover the area of the triangle!

392929-9

To get to a hotel on the hill you have to travel 6 km of uphill road and every kilometer there are 6 sharp curves. Each of the sharp curves is marked by three traffic signs. How many traffic signs are there on the stretch of road that leads to the arbergi?

How much does 7.2 moles of ammonium dichromate weigh? (NH4)2Cr2O7

write in set builder notation { 1,3,9,27,81,243,...}

I have a complex function I would like to integrate over. I can use two approaches and they should give the same solution. If I want to find the contour integral ∫𝛾𝑧¯𝑑𝑧 for where 𝛾 is the circle |𝑧−𝑖|=3 oriented counterclockwise I get the following: ∫2𝜋0𝑖+3𝑒𝑖𝑡⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯𝑑(𝑖+3𝑒𝑖𝑡)=∫2𝜋03𝑖(−𝑖+3𝑒−𝑖𝑡)𝑒𝑖𝑡𝑑𝑡=18𝜋𝑖 If I directly apply the Residue Theorem, I would get ∫𝛾𝑧¯𝑑𝑧=2𝜋𝑖Res(𝑓,𝑧=0)=2𝜋𝑖

Claudia requested a loan of $2,500,000 to finance her studies over a 3-year period. How much will she have to pay at the end of the period if the interest rate obtained was 15% simple annual?

Answer to a math question Claudia requested a loan of $2,500,000 to finance her studies over a 3-year period. How much will she have to pay at the end of the period if the interest rate obtained was 15% simple annual?

You might be interested in