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Popular Word Problems >

you borrowed 1639 from a bank which charges 1.7% interest per year .How much interest did you owe at the end of one year

Solution

yo u b orro w e d 1639 f ro m a bank w hi c h c ha r g es 1.7% in t eres t p er ye a r . Ho w m u c h in t eres t d i d yo u o w e a t t h e e n d o f o n e ye a r

Solution

Interest : 27.863

Solution steps

Translate the problem into an equation:

I = 1639 \cdot 0.017 \cdot 1

Simplify

I = 1639 \cdot 0.017 \cdot 1

Interest : 27.863

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