Problem
QUESTION 9 Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent if necessary. Annie's cafe borrows \( \$ 8200 \) at \( 11 \% \) for 50 days. Find the total amount that must be repaid after 50 days. \( \$ 8323.56 \) \( \$ 8212.36 \) \( \$ 9435.62 \) \( \$ 9102.00 \)
Solution
Step 1 ：\( I = P * r * t \)
Step 2 ：\( I = 8200 * 0.11 * \frac{50}{365} \)
Step 3 ：\( I = 123.56 \)
Step 4 ：\( A = P + I \)
Step 5 ：\( A = 8200 + 123.56 \)
Step 6 ：\( A = 8323.56 \)
