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Popolare Word Problems >

if you borrow 250 dollars for 6 years at an annual interest rate of 11% what is the total amount of money you will pay back?

Soluzione

i f yo u b orro w 250 d o ll a rs f or 6 ye a rs a t an ann u a l in t eres t r a t e o f 11% w ha t i s t h e t o t a l am o u n t o f m o n ey yo u w i ll p a y ba c k ?

Soluzione

Amount : 415

Fasi della soluzione

Translate the problem into an equation:

A = 250 (1 + 0.11 \cdot 6)

250 (1 + 0.11 \cdot 6) = 415

Amount : 415

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