Garret makes a ramp for his skateboard in the shape of a right triangle with a hypotenuse of 2 ft, and a leg of 1 ft. He wants t
1 answer:
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Answer:
r=5%
New balance=$ 517.5
Step-by-step explanation:
We use the simple interest formula:
I=prt.
to determine the rate per annum of a principal of $450 that is invested for 3 years and earned an interest of $ 67.5
We substitute to get:
67.5=450×r×3
We simplify to get:
The rate of interest is 5%
The new balance is
Principal + Interest.
The new balance $517.5
Option B:
$1300
Solution:
Given initial value = $7000, salvage value = %500, time = 5 years
Let the value of the vehicle be described by the equation
V = a + bx – – – – – (1)
where x = number of years since purchase, a and b are constants.
When x = 0, V = $7000
a + b × 0 = 7000
⇒ a + 0 =7000
⇒ a = 7000
When x = 5, V = $500. Therefore
7000 + 5b = 500
5b = 500 – 7000
5b = –6500
The equation is
V = 7000 – 1300x
The slope of this equation is the depreciation rate.
Here slope is 1300.
Option B is the correct answer.
Hence $1300 depreciation per year.