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mr.singh used a one year installment plan touy a computer. on the installment plan the computer cost $2,400 plus 6% simple intrest. use the formula for simple intrest ( l= p*r*t).


Part A:simple interest he paid to but the computer on the installment plan

Part B: Mr.Singh made 12 equal payments. What was the amount that he paid each mounth?

EXPLAIN ALL ANWSERS

(EDIT: I got the answers)

Respuesta :

A: Simple interest paid only uses the interest rate and the principal (cost of the computer)
Interest paid: interest rate * principal (6% * $2,400)
6% = 0.06 (6/100)
Interest paid = 0.06 * 2,400 = $144
B: He paid $144 in 12 equal payment, so simply divide 144 by 12
$144/12 = $12/month

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