Basic College Mathematics (9th Edition)

by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.

Published by Pearson

ISBN 10: 0321825535

ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.7 Simple Interest - 6.7 Exercises - Page 450: 48

Answer

(a) The interest is 5,402.25 dollars. (b) The total due is 34,802.25 dollars.

Work Step by Step

interest = principle * rate * time $i=(29,400)(0.0525)(3.5) = (1543.50)(3.5) = 5402.25$ total due = principle + interest $t=29,400 + 5,402.25 = 34,802.25$

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