Question

mr brown borrowed $5,340 from a bank at 10% aunnum simplr interest for 9 years. the sum of the money paid in interest to the bank and the total amount of money repaid to the bank

Answer 1

[AI-generated answer — Explain Bot]

To calculate the sum of the money paid in interest to the bank and the total amount repaid to the bank, we will need to find two values: the interest paid and the total amount repaid.

First, let's calculate the interest paid:
Interest = Principal x Rate x Time

Here, the principal is $5,340, the rate is 10% (which can be written as 0.10), and the time is 9 years.

Interest = $5,340 x 0.10 x 9
Interest = $5,340 x 0.90
Interest = $4,806

So, the interest paid to the bank is $4,806.

Now we can calculate the total amount repaid:
Total amount repaid = Principal + Interest

Total amount repaid = $5,340 + $4,806
Total amount repaid = $10,146

Therefore, the sum of the money paid in interest to the bank and the total amount repaid to the bank is $4,806 (interest) + $10,146 (total amount repaid) = $14,952.