Answer:
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed.
It is rounded to the nearest tens. You can only round when you have 1,9. Hope I helped
Well first off if you have a negative sign in front of the seven, DO NOT have a plus sign because it will be confusing. So y-7=13? , You add 7 to 13 and = 20, so y= 20
Answer:
x = 10
Step-by-step explanation:
Given
14x - 7 = 133 ( add 7 to both sides )
14x = 140 ( divide both sides by 14 )
x = 10
3. You purchase a car using a $20,000 loan with a 5% simple interest rate.
(a) How much interest do you pay on your loan if you pay off the loan in 4 years? Show your work.
(b) How much interest do you pay on your loan if you pay off the loan in 2 years? Show your work.
(c) How much interest do you save by paying the loan off in 2 years instead of 4? Show your work. Answer:
