question 9 (1 point) geraldo borrows $7100 from the bank at 4.99% simple interest. how much money will…

question 9 (1 point) geraldo borrows $7100 from the bank at 4.99% simple interest. how much money will geraldo owe to the bank after one year if he has made no payments to the bank. assume no fees have been imposed. recall that simple interest is i = prt. round to the nearest cent. your answer: question 10 (1 point) jeremy bought a drill on sale for $139.6. the sale price was 50% off the original price of the drill?

question 9 (1 point) geraldo borrows $7100 from the bank at 4.99% simple interest. how much money will geraldo owe to the bank after one year if he has made no payments to the bank. assume no fees have been imposed. recall that simple interest is i = prt. round to the nearest cent. your answer: question 10 (1 point) jeremy bought a drill on sale for $139.6. the sale price was 50% off the original price of the drill?

Answer

Explanation:

Step1: Calculate simple - interest for Geraldo's loan

Use the simple - interest formula $I = PRT$, where $P=$7100$, $R = 4.99%=0.0499$, and $T = 1$. So, $I=7100\times0.0499\times1$. $I = 7100\times0.0499=353.29$.

Step2: Calculate total amount owed

The total amount $A$ that Geraldo owes is the sum of the principal $P$ and the interest $I$. So, $A=P + I$. $A=7100+353.29 = 7453.29$.

Step3: Calculate original price of drill for Jeremy's problem

Let the original price of the drill be $x$. Since the sale price is 50% off the original price, and the sale price is $$139.6$. Then $0.5x=139.6$. Solving for $x$, we get $x=\frac{139.6}{0.5}=279.2$.

Answer:

Geraldo owes $$7453.29$. The original price of the drill is $$279.2$.