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.
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Answer:
A)
B) 89.157 million tons.
C) In year 2017.
Step-by-step explanation:
We have been given that world poultry production was 77.2 million tons in the year 2004 and increasing at a continuous rate of 1.6% per year.
A). We know that a continuous growth function is in form , where,
a = Initial value,
k = Growth rate in decimal form.
Upon substituting our given values, we will get:
Therefore, our required function would be , where, P represents world poultry production, in million tons, as a function of the number of years, t, since 2004.
B) To find the world poultry production in the year 2013, we will substitute in above formula as:
Therefore, the world poultry production in the year 2013 would be 89.157 million tons.
C) To find the number of years it will take for world poultry production to be over 95 million tons, we will equate our function with 95 as:
Divide both sides by 77.2:
Take natural log of both sides:
Divide both sides by 0.016:
Therefore, 13 years after in 2017 world poultry production goes over 95 million tons.