Question

1. martha euphemia lofton haynes was the first african american woman to earn a phd in mathematics. she borrowed $25,000 to buy a car. she borrows the money for 6 years at a yearly interest rate of 12%. how much interest did martha pay for the car?

use the formula $i = prt$

Explanation:

Step1: Identify given values

Principal \(P = \$25,000\), Rate \(R = 12\% = 0.12\), Time \(T = 6\) years

Step2: Substitute into interest formula

Substitute values into \(I = PRT\):
\(I = 25000 \times 0.12 \times 6\)

Step3: Calculate the interest

First compute \(25000 \times 0.12 = 3000\), then \(3000 \times 6 = 18000\)

Answer:

\(\$18,000\)