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IRISSAK [1]
1 year ago
5

Find the interest accrued on a $7500 loan with a 2.5% interest rate over 4 years

Mathematics
1 answer:
sukhopar [10]1 year ago
4 0

The simple interest accrued is = $750

<h3>Calculation of simple interest</h3>

The principal amount of the loan = $7500

The rate at which the interest is paid is = 2.5%

The time that it will take to pay the interest = 4 years

Using the formula for Simple interest;

SI= P×T×R/100

SI = 7500×4 × 2.5/100

SI= 75000/100

SI=$750

Therefore, the interest accrued on a $7500 loan with a 2.5% interest rate over 4 years is = $750

Learn more about simple interest here:

brainly.com/question/20690803

#SPJ1

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Answer:

See explanation

Step-by-step explanation:

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- The demand function of a certain brand is given as price P a function of x quantity of goods ( in hundred ) demanded per month. The relation is:

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- The point price elasticity ( E ) of demand is given by:

                           E = \frac{P}{x}*\frac{dP}{dx}  

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- To determine the " dP / dx " by taking the first derivative of the given relation:

                          P ( x ) = 50 Ln ( 50 / x ).

                          d P ( x ) / dx = [ 50*x / 50 ] * [ -1*50 / x^2 ]

                                              = - 50 / x

- Hence the point price elasticity of demand is given by:

                          E = - ( P / x ) * ( 50 / x )

                          E = -50*P / x^2    

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                          ! -50*P / x^2 ! < 1

                          50*P / x^2 < 1

                          P < x^2 / 50

- For an unitary demand, ! E ! is =  1:

                          ! -50*P / x^2 !  = 1

                          50*P / x^2 = 1

                          P = x^2 / 50

- For an inelastic demand, ! E ! is > 1:

                          ! -50*P / x^2 ! > 1

                          50*P / x^2 > 1

                          P > x^2 / 50

2)

If the unit price is increased slightly from $50, will the revenue increase or decrease?

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                          d P ( x ) / dx = - 50 / x

- We see that as P increases the from P = $50, the quantity of goods demanded would be:

                          50 = 50 ln(50/x)

                           1 = Ln ( 50 / x )

                           50/x = e

                           x = 50 / e

Then,

                          d P ( x ) / dx = - 50 / ( 50 / e )

                          d P ( x ) / dx = - e

- We see that if price slightly increases from $ 50 then the quantity demanded would decrease by e (hundreds ) goods.

- The decrease in the quantity demanded is higher than the increase in price. The revenue is given by the product of price P ( x ) and x:

                Revenue R ( x ) = P ( x ) * x

                                = 50*x*ln(50/x)

Then the product of price and quantity goods also decreases; hence, revenue decreases.

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