select the correct answer.\nsimple interest = p × r × t\nkate borrowed $400 from her friend. she will repay…

select the correct answer.\nsimple interest = p × r × t\nkate borrowed $400 from her friend. she will repay this amount plus 3 percent simple interest after one year. what is the total amount she will pay her friend?\na. $401.20\nb. $412.00\nc. $400.12

select the correct answer.\nsimple interest = p × r × t\nkate borrowed $400 from her friend. she will repay this amount plus 3 percent simple interest after one year. what is the total amount she will pay her friend?\na. $401.20\nb. $412.00\nc. $400.12

Answer

Explanation:

Step1: Identify values for formula

$P = 400$, $r=0.03$ (3% as a decimal), $t = 1$

Step2: Calculate simple - interest

$I=P\times r\times t=400\times0.03\times1 = 12$

Step3: Calculate total amount

$A=P + I=400+12=412$

Answer:

B. $412.00$