Q:

Shauna borrows $400 from her parents to buy a phone. She agrees to pay them back plus 4% simple interest over one year. Part A Write an equation to represent the total amount Shauna will owe her parents.

Accepted Solution

A:
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Information
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Amount = $400
Interest rate = 4% a year

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Equation
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Total amount = 400 + 0.04(400)
Total amount = 400 + 16
Total amount = $416

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Answer: Total Amount = 400 + 0.04(400)
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