Question

Shauna borrows $400 from her parents to buy a phone. She agrees to pay them back plus 4% simple interest over one year. Part A Write an equation to represent the total amount Shauna will owe her parents.

Answer 1

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Information
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Amount = $400
Interest rate = 4% a year

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Equation
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Total amount = 400 + 0.04(400)
Total amount = 400 + 16
Total amount = $416

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Answer: Total Amount = 400 + 0.04(400)
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Answer 2

An equation that represents the total amount of money Shauna will owe her parents is $T = 16 + P$

• Let the total amount be T.

Given the following data:

• Principal = $400

• Interest = 4%

• Time = 1 year

To write an equation that represents the total amount of money Shauna will owe her parents:

First of all, we would calculate the simple interest.

Mathematically, simple interest is given by this formula:

$S.I = \frac{PRT}{100}$

Where:

• S.I is the simple interest.

• P is the principal amount.

• R is the interest rate.

• T is the time measured in years.

Substituting the given parameters into the formula, we have;

$S.I = \frac{400 \times 4 \times 1}{100}\\\\S.I = \frac{1600}{100}$

Simple interest = $16

Now, we can write the equation that represents the total amount:

$T = 16 + P$

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