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Dan borrow s money to buy a new trumpet $400 at a simple interest rate of 5% he writes the equation t=400 +(0.5×400) to represents the amount of money he will need to pay back after one year is Dan equation correct

Respuesta :

Dan's equation is wrong.

Step-by-step explanation:

Given, Dan borrows money to buy a new trumpet $400 at simple interest rate of 5% .

[tex]{\textrm {simple interest} = \frac{P \times r \times t}{100}[/tex]      here P =$400,  r = 5% and t = 1

                      [tex]=\$\frac{400 \times 5 \times 1}{100}[/tex]

                      [tex]=\$(0.05\times 400)[/tex]

Therefore he will need to pay back after one year is = 400+(0.05×400)

So, t = 400+(0.05×400)

Dan's equation is wrong.

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