Suzie is ready to make her first payment to Ricky. She is planning on paying $4000 plus her accrued interest. Using the formula Principal X Interest X 30/365, what would Suzie's total first payment be? Interest is 15%

To calculate Suzie's total first payment, we need to calculate the accrued interest first and then add it to the principal. The formula for calculating accrued interest is: Accrued Interest = Principal × Interest Rate × Time in days / 365 Given: Principal = $4000 Interest Rate = 15% Time = 30 days (assuming it's the interest for 30 days) Let's calculate the accrued interest first: Accrued Interest = $4000 × 0.15 × 30 / 365 Accrued Interest ≈ $49.32 Now, Suzie's total first payment would be the principal plus the accrued interest: Total First Payment = Principal + Accrued Interest Total First Payment = $4000 + $49.32 Total First Payment ≈ $4049.32 So, Suzie's total first payment would be approximately $4049.32.