If the simple interest on $7000 for 10 years is $6300, then what is the interest rate? I will pick branliest answer with the
most thorough explanation. Please help. If you do, thanks for helping! Use the picture below for question.
1 answer:
Answer:
0.09
Step-by-step explanation:
So if you use the Simple interest equation it will begin with:
Interest total = Initial Amount of money x Interest rate per year x Years money is invested for.
Then substitute the values you have been given so:
$6300 = 7000 x Interest rate per year x 10.
This is simplifies to 6300 = 70,000 x Annual Interest rate
You can rearrange this to find the annual interest rate by dividing by 70,000:
Simplifying this would be: = Interest rate.
The interest rate is 0.09.
You might be interested in
x=2 is only solution while x=1 is extraneous solution
Option C is correct.
Step-by-step explanation:
We need to solve the equation and find values of x.
Solving:
Find the LCM of denominators x-1,x and x-1. The LCM is x(x-1)
Multiply the entire equation with x(x-1)
Now, factoring the term:
The values of x are x=1 and x=2
Checking for extraneous roots:
Extraneous roots: The root that is the solution of the equation but when we put it in the equation the answer turns out not to be right.
If we put x=1 in the equation, the denominator becomes zero i.e
which is not correct as in fraction anything divided by zero is undefined. So, x=1 is an extraneous solution.
If we put x=2 in the equation,
So, x=2 is only solution while x=1 is extraneous solution
Option C is correct.
Keywords: Solving Equations and checking extraneous solution
Learn more about Solving Equations and checking extraneous solution at:
#learnwithBrainly