Mathematics, 16.07.2019 22:30 sofielofi
Sarah borrowed some money from her father at a simple interest rate of 5.5% to pay for her college tuition. at the end of the year, she paid the father $2,555 00. find the amount she borrowed from her father
Answers: 1
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &\$2555\\ P=\textit{original amount deposited}\\ r=rate\to 5.5\%\to \frac{5.5}{100}\to &0.055\\ t=years\to &1 \end{cases} \\\\\\ 2555=P[1+(0.055)(1)]\implies \cfrac{2555}{1+(0.055)(1)}=P \\\\\\ \cfrac{2555}{1.055}=P\implies 2421.800947867 \approx P](/tpl/images/0097/8510/35bc5.png)
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