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)
What is the derivative of y = (2x^3 + 5x^2 - 3x)^4 with respect to x?
+
What is the limit of (2x^3 - 5x^2 + 4) / (x^2 - 3x + 2) as x approaches 2?
+
Q: Find the limit as x approaches 3 of (5x^2 - 7x + 2)/(x - 3).
+
New questions in Mathematics
A normally distributed population has a mean of 118 with a standard deviation of 18. What score separates the lowest 72% of the distribution from the rest of the scores?
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
1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method
9b^2-6b-5
A job takes 9 workers 92 hours to finish. How many hours would it take 5 workers to complete the same job?
The actual length of an object is 1.3 m . If the blueprint uses a scale of 1 : 12 , what is the length of the line on the drawing?
how many arrangement can be made of 4 letters chosen from the 8 letters of the world ABBSOLUTE
4. Show that if n is any integer, then n^2 3n 5 is an odd integer
If the midpoint of point A on the x=3 line and point B on the y=-2 line is C(-2,0), what is the sum of the ordinate of point A and the abscissa of point B?
Pedro had 80% of the amount needed to buy a game. Of this amount, you spent 15% on a watch and therefore, you will need to add another R$640.00 to purchase this game. Is the value of the game?
3. A rock is dropped from a height of 16 ft. It is determined that its height (in feet) above ground t seconds later (for 0≀t≀3) is given by s(t)=-2t2 + 16. Find the average velocity of the rock over [0.2,0.21] time interval.
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
A machine produces 255 bolts in 24 minutes. At the same rate, how many bolts would be produced in 40 minutes?
9.25=2pi r solve for r
Take the limit of (sin(x-4))/(tan(x^2 - 16) as x approaches 4.
Determine the Linear function whose graph passes through the points (6, -2) and has slope 3.
2x-5-x+2=5x-11
The area bounded by the curve y=ln(x) and the lines x=1 and x=4 above the xβˆ’axis is
Sarah is lining a square tray with 1 inch square tiles. the side length of the tray is 9 inches. How many tiles does Sarah need?
The domain of the function f(x)=x+7x2βˆ’144 is (βˆ’βˆž,), ( ,), and ( , ∞).