Question

Para iniciar un negocio, una pareja pide $5.500.000 para comprar equipo y suministros. Si el préstamo tiene una tasa de 14% de interés. ¿Cuánto deben pagar al final de un período de 90 días?

Answer 1

They will have to pay $5,692,500 in 90 days.

Deben pagar $5,692,500 pagar al final de un período de 90 días.

Explanation:

This is a simple interest problem.

The simple interest formula is given by:

`E = P*I*t`

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time, in years..

After t years, the total amount of money is:

`T = E + P`.

In this question:

`P = 5500000, I = 0.14`

3 months is 3/12 = 1/4 = 0.25 of an year. So
`t = 0.25`

Then the interest accrued is:

`E = P*I*t = 5500000*0.14*0.25 = 192500`

What they will have to pay:

`T = 192500 + 5500000 = 5692500`

They will have to pay $5,692,500 in 90 days.

Deben pagar $5,692,500 pagar al final de un período de 90 días.