You take out a simple interest loan for $ 922 to pay for tuition. if the annual interest rate is 6 % and the loan must be repaid in 6 months, find the amount that you, the borrower, will have to repay. round your answer to the nearest cent.

The total amount to be repaid is equal to $949.66

Step-by-step explanation:

Simple interest is a type of interest which is usually applied on short term loans, where when a payment is made towards this kind of interest the payment first goes towards monthly interest and then the remainder is reverted towards the principal.

FORMULA FOR CALCULATING SIMPLE INTEREST =

Here principal = $922

         interest rate = 6%

         time period = 6 months (when made per annum it will be 6/12)

SIMPLE INTEREST IS EQUAL TO $27.66

The total amount that is to be repaid is equal to

   PRINCIPAL + SIMPLE INTEREST

= $922 + $27.66

= $949.66

2 & 7

step-by-step explanation:

he climbs 300 ft/hr at a constant rate. the peak is at 1,500 ft.

when going up, he reaches 600 ft in 2 hours. remember, that he is going in a constant rate. divide 600 with 300:

600/300 = 2

assuming that he takes the same route back (meaning that it's a 1500 ft route back, you can solve.

note also that you are solving when he gets back to 600 ft after he reaches the peak.

first, find the amount of hours it takes to get up the peak. divide the total amount (1500), with the ft/her (300) to get the amount of hours (x):

1500/300 = x

x = 5

it takes jamie 5 hours to get up. now, he is returning down, and reaches 600 (his current destination). remember that he climbs at a constant 300 ft/hr. divide 600 with 300:

600/300 = x

x = 2

now add the two numbers together.

x = 5 + 2 = 7

jamie takes 7 hours to go up the mountain and reach his current position when descending.

(total amount/constant rate) = (time).

remember that it is a constant rate, so in total, when he gets back down the mountain, it will take the same amount of time as when he goes up. the total amount for the round trip is: 5 + 5 = 10.

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