SOLUTION: a couple borrowed $450.00 from hometown Bank at 13.5% simple interest for 9 months for home repairs. to the nearest cent what is the total amount due after 9 months

Question 826925: a couple borrowed $450.00 from hometown Bank at 13.5% simple interest for 9 months for home repairs. to the nearest cent what is the total amount due after 9 months
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
a couple borrowed $450.00 from hometown Bank at 13.5% simple interest for 9 months for home repairs. to the nearest cent what is the total amount due after 9 months
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A(t) = P(1+rt)
A(3/4) = 450(1+(0.135)*(3/4) = 450(1.1013) = $495.56
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Cheers,
Stan H.
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