A linear model is used to determine the amount owed on a loan of $5,000 with simple interest of 4.25%. The model is A = 5000 + 5 000(0.0425t), where A is the Amount (total principal plus interest) required to Use the model to determine how long it would take for the loan amount to reach $7,000. Round to the nearest tenth
1 answer:
Answer:
9.4
Step-by-step explanation:
Hey there!
The question is asking us to use the model to find how long it would take for the loan amount to reach 7,000
In order to answer this, we need to make 7,000 equal to the equation:
7000=5000+5000(0.0425t)
Subtract 5000 from both sides
2000=5000(0.0425t)
Now we simplify the RHS
2000 = 212.5t
Now you divide both sides by 212.5 to get t by itself
t=9.41
So it would take 9.4 months for the loan amount to reach 7000
You might be interested in
241.5 kilometers, you have to divide to find the ratio (1:7.25) and multiply with the longest side
Answer:
First is
Second is
Step-by-step explanation:
Open up equations and do FOIL method.
First equation:
(x + 2y)(x + 2y)
x^2 + 2xy + 2xy + 4y^2
Second equation:
(y + 2x)(y + 2x)
y^2 +2xy + 2xy + 4x^2
Answer:
B
Step-by-step explanation:
how much your currency is worth in a different currency
hope this helps <3
Answer:
what are the hypotheses?
Step-by-step explanation:
you said the hypotheses are as folows its not there
Answer:
There are two different variables. X and Y.