Question

Savings Account Christine Chu borrowed $4500 from a bank at a simple interest rate of 2.5% for one year.
a) Determine how much interest Christine paid at the end of 1 year.

b) Determine the total amount Christine will repay the bank at the end of 1 year.
a is 112
i need help with b

Answer 1

So you found the amount of interest, now all you have to do is add the original price, which is 4500 and add it to your solution in a.
So it is the total amount of money that will be paid back

Answer 2

a)$4500 @2.5% = 4500 x 2.5/100 = $112.50 interest at end of year one
b) Christine will repay amount borrowed + interest = $4500 + $112.50 = $4612.50