Answer:
The annual interest rate is 6.25%
Step-by-step explanation:
We have been given that
P = $50,000
I = $9,375
t = 3 years
r = ?
The formula for simple interest is given by
Therefore, the annual interest rate is 6.25%
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Based on the maximum taxable amount for social security in 2009, and the social security tax rate, the social security tax that Larry paid was $7,347.
<h3>How much did Larry pay in social security taxes?</h3>
The total amount paid by Larry as Social security tax can be found as;
= Maximum amount allowable for social security tax x Social security tax rate
The social security tax rate was 6.2% not 62.2%.
The social security tax was therefore:
= 118,500 x 6.2%
= $7,347
Find out more on social security taxes at brainly.com/question/13255138
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Using the least common factor, it is found that:
- a) 60 packages should be bought.
- b) There will be 5 filled goody bags.
<h3>
Least Common Factor:</h3>
- The sizes of the packages are: 10, 6, 15 and 12.
- To fill each bag and have no left-overs, the number of packages is the <u>least common factor</u> of these amounts.
- The least common factor is found factoring the numbers into prime factors.
Item a:
10 - 6 - 15 - 12|2
5 - 3 - 15 - 6|2
5 - 3 - 15 - 3|3
5 - 1 - 5 - 1|5
1 - 1 - 1 - 1
Hence, lcf(10,6,15,2) = 2 x 2 x 3 x 5 = 60.
60 packages should be bought.
Item b:
Goody bags are in packages of 12, hence:
60/12 = 5.
There will be 5 filled goody bags.
To learn more about the least common factor, you can take a look at brainly.com/question/24873870
