heyhi1234 heyhi1234
  • 10-03-2018
  • Mathematics
contestada

You borrow $350 from your aunt and agree to repay her $400 in 18 months. What interest rate (to the nearest tenth) are you paying?

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 10-03-2018
I = P*r*t
r = I/(P*t) = (400 -350)/(350*1.5) . . . . . . 18 mo = 1.5 yr
r = 1/10.5
r ≈ 9.5%

You are paying about 9.5% simple interest.
Answer Link

Otras preguntas

Explain possible consequences if someone are used issued with fraudulent licence
Which ion will oxidize Fe? 1) Zn+2 2)Ca+2 3) Mg+2 4) Cu+2
Louis wants to carpet the rectangular floor of his basement. The basement has an area of 864 square feet. The width of the basement is 2/3 its length. What i
Verify that f and g are inverse functions. Help please? I'm stuck here!!!
John was unable to work on Sundays because he had a church commitment. This is known as a/an
Which historical figure supported nonviolence as a way of India gaining its independence from Britain?
What is the answer to number 8
milton purchases a 5-gallon aquarium for his bedroom.To fill the aquarium with water,he uses a container with a capacity of 1 quart.How many times will milton f
Scrieti un eseu liber de aproximativ 250-300 cuvinte cu titlul "calatorie in lumea poeziei"
to increase an amount by 3% what single multiplier would you use? thanks :)