Are the equations 4-5x=24 and 5x=20 equivalent?
1 answer:
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Answer:
2% interest rate.
Step-by-step explanation:
<u>Given:</u>
- April took out a $600 loan.
- After 5 years, she pays it back.
- She has payed $60 in simple interest.
Let's find the interest rate using the given values:
60 =
(r represents the possible percentage amount of the variable x)
(100 is being divided by the numerator to simplify the answer)
<u>Solve:</u>
600(5) = 3000
3000(r)/100
<u>Divide by 100:</u>
60 = 30r
<u>Divide both sides of the equation by 30:</u>
2=x
*r is represented by x.
Therefore, the interest rate is 2%.
Best of luck on your midterms!