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
96 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)
What is the key characteristic of the cube root function?
+
Math question: Find the radius of a circle given that the circle's equation is x^2 + y^2 = 25. What is the value of r?
+
Question: What is the limit of ((3xΒ² + 5x + 10)/(x - 2)) as x approaches 2?
+
New questions in Mathematics
a to the power of 2 minus 16 over a plus 4, what is the result?
10! - 8! =
5/8 x 64
two particles start at the origin and move along the x axis. for 0 <= t <= 10, their respective position functions are given by x1 = cos(t) and x2 = (e^-3t) + 1. for how many values of t do the particles have the same velocity?
Find the equation of the normal to the curve y=xΒ²+4x-3 at point(1,2)
Determine the correct value: A company knows that invoices pending collection have a normal distribution with a mean of $1.65 million, with a standard deviation of $0.2 million, then: The probability that an invoice pending collection has an amount that is within more than 2 deviations below the mean, is:
I) Find the directional derivative of 𝑓(π‘₯, 𝑦) = π‘₯ sin 𝑦 at (1,0) in the direction of the unit vector that make an angle of πœ‹/4 with positive π‘₯-axis.
Determine the equations of the lines that pass through the following points P1 (2;-1) and p2 (4;-1)
Find the root of x^4-10x^ 5=0 using Newton's method, with a precision of the smallest positive root.
Suppose 50% of the doctors and hospital are surgeons if a sample of 576 doctors is selected what is the probability that the sample proportion of surgeons will be greater than 55% round your answer to four decimal places
12(3+7)-5
Task 1 angel has 3 quarters 3/8 of a tank of gasoline and Miguel 7/8, who has more gasoline? number line on number line
Suppose you have a sample of 100 values from a population with mean ο»Ώmuο»Ώο»Ώ = 500 and standard deviation ο»Ώο»Ώsigmaο»Ώο»Ώ = 80. Given that P(z < βˆ’1.25) = 0.10565 and P(z < 1.25) = 0.89435, the probability that the sample mean is in the interval (490, 510) is: A)78.87% B)89.44% C)10.57% D)68.27%
A person decides to invest money in fixed income securities to redeem it at the end of 3 years. In this way, you make monthly deposits of R$300.00 in the 1st year, R$400.00 in the 2nd year and R$500.00 in the 3rd year. Calculate the amount, knowing that compound interest is 0.6% per month for the entire period. The answer is 15,828.60
If A and B are any events, the property that is not always true is: a) 0 ≀ 𝑃(𝐴 ∩ 𝐡) ≀ 1 b) 𝑃(Ξ©) = 1 c) 𝑃(𝐡) = 1 βˆ’ 𝑃(𝐡𝑐) d) 𝑃(βˆ…) = 0 e) 𝑃(𝐴 βˆͺ 𝐡) = 𝑃(𝐴) + 𝑃(𝐡)
cube root of 56
7- A printing company found in its investigations that there were an average of 6 errors in 150-page prints. Based on this information, what is the probability of there being 48 errors in a 1200-page job?
xΒ²-7x+12=0
The perimeter of a rectangular rug is 42 feet. The width is 9 feet. What is the length?
97,210 βž— 82 division