Annie's cafe borrows $6100 at 6% for 290 days. find the total amount that must be repaid after 290 days. (use a 365 day year.)

General Idea:

The formula to find the Amount 'A' that need to be paid after ' t ' years for a Principal ' P ' with a annual rate of interest ' r ' is given below:

Applying the concept:

Annie's cafe borrows $6100 at 6% for 290 days.

From the above statement we can conclude,...

Substituting the values of P, r and t in the formula, we get...

Conclusion:

The total amount that must be repaid after 290 days is approximately

answer: approximately 206 bones

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