In 10 years, a bank account with a 5.25% annual interest rate earned $18,375 as simple interest. What was the principal amount?
1 answer:
Answer:
The principal amont was $35,000
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
We want to find P. So
The principal amont was $35,000
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Drone nerds will get 15 Mavic air 2's for $23196.192 after offering a chain discount of 6/4/3.
Chain discount is the series of discounts that are offered from the list price of an object when bought from a store.
A general example of a 10/5 chain discount denotes that there will be a series of discounts on the list price. First a discount of 10% is awarded on the list price then a further 5% on the reduced price.
The List price of the drones is $26500.
Chain discount=6/4/3
So the first discount received is 6% on the $26500.
Price after the first discount=26500- 6%of 26500
Simplifying we get
The price after the first discount is $24910
Now we will apply the 4% discount on $24910
Price after second discount=24910-4% of 24910
=$23913.60
Now we apply the third discount
Price after third discount is=23913.60-3%of 23913.60
=$23196.192
To learn more about chain discount:
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