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olya-2409 [2.1K]
2 years ago
6

Malik borrowed $8,000 to buy a new boat. He will pay off the loan after 4 years by paying back the principal plus 6.5% simple in

terest. How much will Malik pay back altogether?
A. $520 B. $2,080 C. $8,000 D. $10,080
Mathematics
2 answers:
nasty-shy [4]2 years ago
5 0

Answer:  D. $10,080

Step-by-step explanation:

The formula to find  the simple interest is given by :-

S.I.=Prt, where P is principal amount , r is rate of interest ( in decimal ) and t is time period.

Given : Principal amount = $8,000

The rate of interest = 6.5% = 0.065

Time period= 4 years

Then , the simple interest will be :-

S.I.=8000\times0.065\times4=2080

Hence, the amount which Malik pay back altogether = P+S.I.=8000+2080=\$10,080

Pachacha [2.7K]2 years ago
3 0
The answer is D - 10, 080
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