If the simple interest on $4000 for 8 years is $2240, then what is the interest rate?

1 answer:

5 0

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$2240\\ P=\textit{original amount deposited}\dotfill & \$4000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &8 \end{cases} \\\\\\ 2240 = (4000)(\frac{r}{100})(8) \implies 2240=\cfrac{32000r}{100}\implies 2240=320r \\\\\\ \cfrac{2240}{320}=r\implies 7=r$

You might be interested in

8x=1 give your answer as a fraction in its simplest form

kotegsom [21]

Answer:

the answer is 1 over 8 , 1/8

4 0

3 years ago

Read 2 more answers

20 Fuji apples cost $12. How many Fuji apples can you buy for $3?

ryzh [129]

Answer:

5 apples

Step-by-step explanation:

First, we must find the cost of one apple

12/20 = the cost of one apple

= $0.60

Then, we divide 3 by the price of one apple

3/0.6 = amount of apple we can buy

= 5

4 0

3 years ago

Write an equation to represent the total amount Shauna will owe her parents

Misha Larkins [42]

This would actually be a very broad question. So, when considering these kinds of questions, one thing that we would really want to consider would be the $(x)$ value in this case. We would want to find the amount, and also the terms of the expression.

So, let's suppose that the amount would be 200.

And let's say that Shauna makes 5 a week.

Then the expression would then look like $\boxed{5w=200}$

$(w)=weeks \\ \\ (5)= how \ much \ she \ makes \ in \ a \ week. \\ \\ so \ we \ do \ the \ amount \ she \ makes, \ and \ then \ \\multiplied \ by \ the \ amount \ of 
 \ weeks.$

I hope this would help you in your case of the problem! :)

5 0

3 years ago

mike and kim invest $14,000 in equipment to print yearbooks for schools. each yearbook costs $7 to print and sells for $35. how

Zina [86]

The answer is A.) 500 Year books.

The profit they would gain from each year book would be $28 since each year book costs $7 to make and sells for $35. You would simply divide 14,000 by 28 to find how many books they would need to sell in order to get their investment back which would be 500 books.

Hope this helps.

8 0

4 years ago

Help me plz it’s due today

Serggg [28]

Answer:

Step-by-step explanation: Your salary will be greater than or equal to $46,000.

3 0

3 years ago

Read 2 more answers

If the simple interest on ​$4000 for 8 years is ​$2240​, then what is the interest​ rate?

If the simple interest on $4000 for 8 years is $2240, then what is the interest rate?