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lys-0071
3 days ago
6

The shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs of shoes. The bank charges a simple interest rat

e of 5% per year on a loan to a business. If it takes 3 years to pay back the loan and interest, what is the total amount of interest that the shoe store will pay?
Mathematics
1 answer:
babunello [3.6K]3 days ago
7 0

Answer:

2550

Step-by-step explanation:

1) The initial amount borrowed is 17,000.

2) The interest rate is set at 5%.

3) Therefore, to calculate interest: 0.05 * 17000 equals 850.

4) Since the repayment takes 3 years, multiply by 3: 850 * 3 equals 2550.

5) Thus, the total interest that the shoe store is obligated to pay is 2550.

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PIT_PIT [3895]

Answer:

0.012 km/hr

Step-by-step explanation:

(1200 cm)(1 m/100 cm)(1 km/1000 m) = 0.012 km/hr

4 0
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7 days ago
Ann is grouping 38 rocks. She can put them into groups of 10 rocks or as single rocks. What are the different ways Ann can group
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8 days ago
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You can utilize them in reverse order, but this method doesn't apply for subtraction.

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If m∠1= (7x –19)°, and m∠2 = (x + 5)°, find m∠2.
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Given :

∠m1 = ( 7x - 19 )°.

∠m2 = ( x + 5 )°.

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As the relationship between angle ∠m1 and ∠m2 isn't specified,

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