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Mazyrski [523]
2 years ago
12

The interest on $2,000 for 2 years is $320. What is the simple interest rate?

Mathematics
1 answer:
umka2103 [35]2 years ago
7 0
R = 8%/year

Equation:
r = (1/t)(A/P - 1)
Calculation:
Solving our equation:
r = (1/2)((2320/2000) - 1) = 0.08
r = 0.08

Converting r decimal to R a percentage
R = 0.08 * 100 = 8%/year

The interest rate required to get a total amount, principal plus interest, of $2,320.00 from simple interest on a principal of $2,000.00 over 2 years is 8% per year.
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Explanation:
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3 years ago
a sporting goods store receives a shipment of 124 golf bags. The shipment includes two types of bags, full-sized and collapsible
Dominik [7]
The sporting goods store receives the shipment of 124 golf bags in total.
Let us assume that the number of full-sized bags = X
Then the number of collapsible golf bags = 124 - X
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Total cost of the 124 bags received by the sporting goods store = $3430
Then
(38.50)X + (124 - X)22.50 = 3430
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16X = 3430 - 2790
16X = 640
X = 640/16
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So the number of full-sized golf bags received = 40
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Answer:

for speed/distance conversation allow for a small amount of rounding up/ down.

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