Thang decided to borrow $6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9 %. How much interest will Thang pay?

Thang will pay $1620 interest

Step-by-step explanation:

Simple Interest

Definition: Interest calculated on the original principal only of a loan or on the balance of an account.

Unlike compound interest where the interest earned in the compounding periods is added to the new principal, simple interest only considers the principal to calculate the interest.

The interest earned is calculated as follows:

I=P.r.t

Where:

I=Interest

P=initial principal balance

r=interest rate

t=time

Thang borrowed P=$6000 from his local bank. The loan was for t=3 years at a simple interest rate of r=9% = 0.09. The interest is calculated as:

I = 6000*0.09*3

I = 1620

Thang will pay $1620 interest

the solution of the equation is 2.23 ⇒ answer b

step-by-step explanation:

* lets revise the meaning of exponential function

- the form of the exponential function is y = ab^x, where a ≠ 0, b > 0 ,  

  b ≠ 1, and x is any real number

- it has a constant base b

- it has a variable exponent x

- to solve an exponential equation, take the log or ln of both sides,  

  and solve for the variable

* lets solve the problem

∵

- the base is 7 and the exponent is x

- insert ㏑ in both sides

∴

- use the rule

∴ x ㏑(7) = ㏑(77)

- to find x divide both sides by ㏑(7)

∴

* the solution of the equation is 2.23 to the nearest 2 decimal places

part a: 1.08

part b: 27.59