Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

Question

anonymous · Answer

900*(.04/2)

anonymous · Answer

so i multiply those numbers together right which will get me 76

anonymous · Answer

no, i got 18, did you divide .04 by 2 first then multiply?

anonymous · Answer

no i didnt and thanks btw

anonymous · Answer

np

anonymous · Answer

jN7 do you think you can help out on this on
Sara borrowed $500 for four years at 3 percent interest, compounded annually. Use the formula to calculate the total amount she will have paid back.

anonymous · Answer

compound formula = P*(1+r)^t

anonymous · Answer

i dont understand whats its asking for

anonymous · Answer

it sounds like it wants to know how much she'll pay in total for borrowing $500 for four years at 3% annual compounding.  $500*(1+.03)^4 is to figure out how much total she has to pay.

anonymous · Answer

it gave me 125.00

anonymous · Answer

1.03^4 means 1.03 to power of 4 which should be 1.12550881, multiply that by 500

anonymous · Answer

565

anonymous · Answer

i got 562.75

anonymous · Answer

then i might of done something wrong