mia borrowed $12000 at 5% interest for 6 years.
what was the total interest mia paid???
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OpenStudy (vijeya3):
hey mimi:)
Do you know the formula for SI?
OpenStudy (aye_my_peeps):
ayee and not really......
OpenStudy (vijeya3):
Okay...doesn't matter.
I'll tell ya
SI is the Simple Interest.There are basically two types-Simple and Compound Interest.You can google them if you wanna know them in detail or even ask me about it:)
Right now,let us concentrate on SI only.Okay?
OpenStudy (aye_my_peeps):
k
OpenStudy (vijeya3):
The formula for finding the SI is
SI=R*P*T/100
where,
P=Principal that is the amount at hand
R=Rate at which we are gonna be paying it per year
T=Time which here is the number of years.
Can you do it now?:)
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OpenStudy (vijeya3):
@AYE_MY_PEEPS ?
OpenStudy (aye_my_peeps):
no...
OpenStudy (vijeya3):
Okay so u didn't understand it?or you want me to do it for ya?
OpenStudy (aye_my_peeps):
both hahaha but mostly bc i didnt understand
@Vijeya3
OpenStudy (bournville):
maybe i could do it for ya?
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OpenStudy (bournville):
she seems off
OpenStudy (vijeya3):
Well..sorry was afk
Okay,just remember the simple interest formula,alright?
SI=P*R*T/100
Here,
P=12000
R=5
T=6
Try now @AYE_MY_PEEPS ?
OpenStudy (aye_my_peeps):
uhhh
OpenStudy (vijeya3):
so what's ur answer?
OpenStudy (aye_my_peeps):
...
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