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RideAnS [48]
3 years ago
8

Interest earned : $837 principal : $3100 Interest rate : ? time : 6 years

Mathematics
1 answer:
Cloud [144]3 years ago
7 0
Hi,

By definition, interest rate is <span>the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. 

To find interest rate you need the principle, interest earned, and time. 
</span><span>
Solve for Rate (R)

</span><span>Where: r = I / Pt
</span>
I = 837 (dollars) 

P = 3100 (dollars) 

t = 6 (years)

r = 837 / ( 3100 × 6 ) = 0.045

<span>r = 0.045
</span>
*converting r decimal to a percentage
R = 0.045 * 100 = 4.5%/year*

The interest rate required to accumulate simple interest of $ 837.00 from a principal of $ 3,100.00 <span>over 6 years is 4.5% per year.
</span>
In short, rate: 4.5% / year


Faith xoxo
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Answer:

1. Binary number system only uses 2 digits: 0 and 1.

2. Octal number system uses 8 digits: 0,1,2,3,4,5,6,7 with the base of 8.

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4. Hexadecimal number system uses 16 digits and alphabets: 0,1,2,3,4,5,6,7,8,9 and A,B,C,D,E,F with the base of 16.

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If the numerator is greater than or equal to the denominator, the fraction is called an improper fraction.

A mixed fraction is the sum of a whole number and a fraction.

To simplify a fraction is to convert it into a form which the numerator and denominator have no common factor other than one.

Step-by-step explanation:

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