To calculate how much Joe will owe when the note comes due, we can use the formula for simple interest: (A = P(1 + rt)), where (A) is the total amount owed, (P) is the principal amount (8000), (r) is the interest rate (0.13), and (t) is the time in years (1).
Plugging in the values: (A = 8000(1 + 0.13 \times 1) = 8000(1 + 0.13) = 8000 \times 1.13 = 9040).
Therefore, Joe will owe $9,040 when the note comes due.
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