Pregunta
upstudy study bank question image url

Darius has a 6-month loan for . He must pay annual interest on the loan. Using the
formula for simple interest, Prt, where is interest owed, is the amount borrowed, is the
rate as a decimal, and is time in years, find the amount of interest owed by Darius after 6 months.


$140

Ask by Medina Bates. in the United States
Jan 24,2025

Solución de inteligencia artificial de Upstudy

Respuesta verificada por el tutor

Responder

Darius owes $14 in interest after 6 months.
Answer: $14

Solución

To calculate the interest owed by Darius after 6 months using the simple interest formula:
Where:
  • (principal amount)
  • (annual interest rate)
  • years (6 months)
Plugging in the values:
Answer: $14

Respondido por UpStudy AI y revisado por un tutor profesional

error msg
Explicar
Simplifique esta solución

Mind Expander

To calculate the interest owed by Darius after 6 months, we can plug the values into the simple interest formula . Here, , (which is 5.6% as a decimal), and (since 6 months is half a year).
So, .
Therefore, Darius owes in interest.
Finding out how such simple interest calculations can weave into our daily lives can be quite fun! Just think about when you’re shopping for a car, or even if you decide to take a small personal loan. Understanding the cost of what you’re borrowing will help you make wiser financial decisions down the road. Imagine being able to compare offers based on just a few numbers!
For those intrigued by how interest began, the concept dates back to ancient Mesopotamia! People were already borrowing and lending goods and money using a type of interest as early as 3000 BC. It was a way to encourage lending and manage economic trade. Fast forward to today, and it’s a fundamental part of banking and finance, influencing everything from how we invest to the rates we pay on mortgages.

¡Prueba Premium ahora!
¡Prueba Premium y hazle a Thoth AI preguntas de matemáticas ilimitadas ahora!
Quizas mas tarde Hazte Premium
Estudiar puede ser una verdadera lucha
¿Por qué no estudiarlo en UpStudy?
Seleccione su plan a continuación
Prima

Puedes disfrutar

Empieza ahora
  • Explicaciones paso a paso
  • Tutores expertos en vivo 24/7
  • Número ilimitado de preguntas
  • Sin interrupciones
  • Acceso completo a Respuesta y Solución
  • Acceso completo al chat de PDF, al chat de UpStudy y al chat de navegación
Básico

Totalmente gratis pero limitado

  • Solución limitada
Bienvenido a ¡Estudia ahora!
Inicie sesión para continuar con el recorrido de Thoth AI Chat
Continuar con correo electrónico
O continuar con
Al hacer clic en "Iniciar sesión", acepta nuestros términos y condiciones. Términos de Uso & Política de privacidad