OKAY I am sooo sick today and my mom made me stay home from school:( SHe went and picked up my work from school and I have been really trying to do it, but I am stuck on a math problem. My mom isn't home and neither is anyone else, so I am really stuck and i'vr tried looking back in my math book, but I am so stuck \. I am using answers as a last resort please help!!! Here is the problem... (it's 7th grade pre-algerbra)
Derek borrowed $25 from his brother, Craig. Derek has to repay the money in 3 months at 20% simple interest. How much wil Derek owe Craig?
A. $26.75
B. 27.50
C. 28.75
D. 29.00
HELP PLEASE
2007-03-28 09:19:43 · 6 answers · asked by !@#$%^&*()_+ 3 in Education & Reference ➔ Homework Help
I don't see this answer listed, but this is what I would say based on a simple interest calculator that I found.
P is the principal amount, $25.00.
r is the interest rate, 20% per month, or in decimal form, 20/100=0.2.
t is the time involved, 3....month(s) time periods.
Since your interest rate is "per month" and you gave your time interval in "month(s)" we need to convert your time interval into "month" as well.
So, t is 3....month time periods.
To find the simple interest, we multiply 25 × 0.2 × 3 to get that:
The interest is: $15.00
2007-03-28 09:41:30 · answer #1 · answered by Robyn T 2 · 0⤊ 1⤋
None of the answers given seem correct. 20% of $25 is $5, but that would be for a year. Since the loan is to be paid in three months, which is 1/4 of a year, then he would owe $5/4 or $1.25 interest, so it seems like the answer should be $26.25, which is not an option. Are you sure the first answer isn't that?
25 + .20(25)/4 = 25 + 5/4= 25 + 1.25 = $26.25
2007-03-28 09:31:25 · answer #2 · answered by Lillian L 5 · 2⤊ 0⤋
Listen:
Interest = Principal x Rate x Time
Principal = 25.00
Rate = 0.20
Time = 3 months......so this is the tricky part. Since simple interest is calculated yearly, you need to come up with a ratio. Divide 3 by 12......so 3/12 = 1/4 or 0.25
Your formula is
Interest = 25(0.20)(0.25)
So 25*0.20=5 Now==>5*0.25=1.25
The simple interest is $1.25
Derek needs to pay Craig $26.25
You didn't list 26.25 as a choice, but I GUARANTEE YOU THAT 26.25 IS THE RIGHT ANSWER.
I
2007-03-28 09:37:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
this is easy ill help. first 25/3= then you'll need to 20% of the interest per month of the total (hint just divide the total .20) then you will have your answer..good luck im in honers algebra and I have never had to do a problem like this..mine were extremley harder in middle school-that doesnt matter you can email me if you have further questions-im in highschool
2007-03-28 09:30:20 · answer #4 · answered by Britanie 3 · 0⤊ 1⤋
don't get on right here and ask such dumb questions which make me ask your self what f u c ok e d up college u went and nonetheless are going to enhance up and get a actual education like something of the organic international
2016-10-01 21:09:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
gurl im as old as u r. but u dint need to tell ppl that ur home by urself nd n da 7th grade okay baby. sry that ur sick nd i hope u feel betta. no answer to the question but we went ova that today but i dnt get it either sry bby! ♥
2007-03-28 09:28:48 · answer #6 · answered by =) 3 · 1⤊ 2⤋