A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows ​$26 comma 000 for 3 years with a simple interest rate of 1.5​%. Determine the amount of money the woman must repay after 3 years.

To determine the total amount the woman must repay after 3 years, we will use the simple interest formula:

\[
I = P \times r \times t
\]

where:
- $ I $ is the interest,
- $ P $ is the principal amount (initial loan),
- $ r $ is the interest rate (in decimal form),
- $ t $ is the time in years.

### Step 1: Identify the values
- $ P = 26,000 $ dollars,
- $ r = 1.5\% = 0.015 $,
- $ t = 3 $ years.

### Step 2: Calculate the interest
\[
I = 26,000 \times 0.015 \times 3 = 1,170 \text{ dollars}.
\]

### Step 3: Calculate the total repayment amount
The total amount the woman must repay is the sum of the principal and the interest:
\[
\text{Total} = P + I = 26,000 + 1,170 = 27,170 \text{ dollars}.
\]

### Final Answer:
The woman must repay **$27,170** after 3 years.

Do you need more details or have any questions?

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Here are 5 follow-up questions:
1. How would the repayment change if the interest rate was 2%?
2. What would the interest be if the loan duration was extended to 5 years?
3. How is simple interest different from compound interest?
4. How would the repayment change if the woman only borrowed $20,000?
5. How does the time period affect the total repayment?

**Tip:** In simple interest, interest is calculated only on the original principal, not on any accumulated interest.

A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows $26,000 for 3 years with a simple interest rate of 1.5%. Determine the amount of money the woman must repay after 3 years.

Learn how to calculate the simple interest and total repayment amount for a $26,000 loan at 1.5% interest over 3 years. This problem covers key financial math concepts such as simple interest and repayment, and is ideal for students in Grades 7-9.

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