mrs. harrison borrows $600 to pay for a new p...
mrs. harrison borrows $600 to pay for a new phone. the simple interest on the loan is 9% for one year. what is the total amount mrs. harrison will pay back?
Answer
# Explanation:
## Step1: Calculate simple - interest
The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the interest rate, and $t$ is the time. Here, $P=\$600$, $r = 9\%=0.09$, and $t = 1$ year. So, $I=600\times0.09\times1 = 54$.
## Step2: Calculate total amount
The total amount $A$ to be paid back is the sum of the principal $P$ and the interest $I$. So, $A=P + I=600 + 54=\$654$.
# Answer:
$654$