You decide to buy a 60-inch plasma-screen TV. To do so, you borrow $4,300 from the electronics store at 1.8 percent per month simple interest, with no payments due for two years from the date of purchase.

How much do you owe on the loan after 15 months? Round your answer to the nearest whole dollar.

Question

You decide to buy a 60-inch plasma-screen TV. To do so, you borrow $4,300 from the electronics store at 1.8 percent per month simple interest, with no payments due for two years from the date of purchase.

How much do you owe on the loan after 15 months? Round your answer to the nearest whole dollar.

anonymous · Answer

Same as last question we did
P * R * T= Interest
but remember they want to know how much you owe(not just interest but also principle )
So
P*R*T+P= amount you owed

anonymous · Answer

so 4300*1.8*15?

anonymous · Answer

Yes but don't forget to add 4300 to it
4300 +4300*1.8*15

anonymous · Answer

that gives me 232200. that cant b right

anonymous · Answer

hold on our interest rate is off
it should be .018 not 1.8  (percent to decimal)

anonymous · Answer

4300 +4300*.018*15

anonymous · Answer

23220

anonymous · Answer

then that gives me 23220

anonymous · Answer

http://www.wolframalpha.com/input/?i=4300+%2B4300*.018*15