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zvonat [6]
1 year ago
10

James paid off the loan on his motorboat in the year 2006. He originally borrowed $6500 to buy the boat, but with simple annual

interest, he discovered that he paid a total of $8775 over the life of the loan. If James’s annual interest rate was 7%, in what year did his loan begin?
Mathematics
1 answer:
lara [203]1 year ago
6 0

Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. The number of years for which James took the loan is 5.

<h3>What is simple interest?</h3>

Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,

Amount after T years = P + SI

SI = PRT

where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.

James paid off the loan on his motorboat in the year 2006. He originally borrowed $6500 to buy the boat, but with simple annual interest, he discovered that he paid a total of $8775 over the life of the loan. Also, the annual interest rate is 7%. Therefore,

A = P + (PRT)

8775 = 6500 + (6500×0.07×T)

2275 = 6500×0.07×T

T = 5

Hence, the number of years for which James took the loan is 5.

Learn more about Simple Interest:

brainly.com/question/2793278

#SPJ1

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AnnyKZ [126]

Answer:

it is the first option

Step-by-step explanation:

the middle (median)is 31 and where the Q starts is 26

7 0
3 years ago
A water pitcher holds 3.5 quarts of water. How many liters of water does it hold? A 2.2 liters B) 3.3 liters C)3.7 liters D) 5.6
Marina CMI [18]
There is 0.946 liter in 1 quart

3.5/0.946 = 3.6997

~3.7 liters, or C

C is your answer

hope this helps
4 0
3 years ago
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Given a geometric sequence in the table below, create the explicit formula and list any restrictions to the domain.
Makovka662 [10]

Given:

The geometric sequence is:

n              a_n

1                        -4

2                      20

3                     -100

To find:

The explicit formula and list any restrictions to the domain.

Solution:

The explicit formula of a geometric sequence is:

a_n=ar^{n-1}            ...(i)

Where, a is the first term, r is the common ratio and n\geq 1.

In the given sequence the first term is -4 and the second term is 20, so the common ratio is:

r=\dfrac{a_2}{a_1}

r=\dfrac{20}{-4}

r=-5

Putting a=-4,r=-5 in (i), we get

a_n=-4(-5)^{n-1} where n\geq 1

Therefore, the correct option is B.

5 0
3 years ago
Sammy buys 5 pounds of oranges for 7.50 at this rate how much would 8 pounds of oranges cost
Nadusha1986 [10]

The cost of 8 pounds of oranges based on the total cost of 5 pounds bought is 12.00

What is the cost for a pound of oranges?

The cost of a pound of oranges based on the rate at which 5 pounds were bought and 8 pounds would also be bought is determined as the amount paid for 5 pounds of oranges divided by the number of pounds of oranges bought

cost per pound of oranges=cost of 5 pounds/5 pounds

cost per pound of oranges=7.50/5

cost per pound of oranges=1.50

Based on the 1.50 per pound, the cost of 8 pounds is the cost per pound multiplied by 8 pounds

cost of 8 pounds of oranges=1.50*8pounds

cost of 8 pounds of oranges=12.00

Find out more about unit cost on:brainly.com/question/17430583

#SPJ1

3 0
1 year ago
Is 1/5 bigger or smaller than 1/6
MAXImum [283]
You can tell if you make the denominators the same easiest one is 30 for 6 and 5
1/5=6/30
1/6=5/30

now you can see which is bigger
4 0
3 years ago
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