Respuesta :

Solution:

Given in the question, we have the amount to be

[tex]=\text{ \$}500[/tex]

The interest rate given is

[tex]=8\%=\frac{8}{100}=0.08[/tex]

The time is given below as

[tex]\begin{gathered} t=90days \\ t=\frac{90}{365}=0.25 \end{gathered}[/tex]

Step 1:

We will calculate the simple interest

[tex]\begin{gathered} I=\frac{PRT}{100} \\ I=\frac{500\times8\times0.25}{100} \\ I=\text{ \$}10.00 \end{gathered}[/tex]

Step 2:

We will calculate the total repayment using the formula below

[tex]\begin{gathered} T.P=A+I \\ T.P=\text{ \$}500+\text{ \$}10 \\ T.P=\text{ \$}510.00 \end{gathered}[/tex]

Hence,

The final answer is

[tex]\Rightarrow\text{ \$}510.00[/tex]

OPTION C is the right answer

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