Marian will pay $472.50 for the sound system if she pays the full amount in one year.
Step-by-step explanation:
Given,
Money borrowed for sound system = $450
Interest rate = 5%
Amount of interest = 5% of money borrowed
Amount of interest = [tex]\frac{5}{100}*450[/tex]
[tex]Amount\ of\ interest=\frac{2250}{100}\\\\Amount\ of\ interest=\$22.50[/tex]
If she pays the amount in one year;
Total amount to be paid = Money borrowed + Amount of interest
Total amount to be paid = $450 + $22.50 = $472.50
Marian will pay $472.50 for the sound system if she pays the full amount in one year.
Keywords: interest, addition
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