We have to apply the simple interest formula:
I = p x r x t
Where :
I = interest
p = principal amount
r= interes rate ( in decimal form, percentage divided by 100)
t= time (years)
Replacing with the values given:
I = 750 x (7/100) x 3
I = 750 x 0.07 x 3
I = $157.7
So last week Paul worked 2.5x this week's hours, so he worked a total of 2.5x15= 37.5 hours last week.
House price = down payment + mortgage x number of months
430,000 = 250,000 + 2,000x where x is number of months
To find number or months solve for x
430,000 = 250,000 + 2,000x
Subtract 250,000
180,000 = 2,000x
Divide by 2,000
x = 90 months
12 months in one year
90 = 84 + 6 = 12 x 7 + 6
7 years and 6 months
