The annual interest rate is 3.5%.
Solution:
Given Interest (I) = $26.25
Principal (P) = $500
Time (t) = 18 months
Rate of interest (r) = ?
Time must be in years to find the rate per annum.
1 year = 12 months
Divide the time by 12.
Time (t) = 
years
Now, find the rate of interest using simple interest formula.
<u>Simple interest formula:</u>
⇒ r = 3.5%
Hence the annual interest rate is 3.5%.
Answer:$1655.22
Step-by-step explanation:
The total distance from Oakland California to Erlanger Kentucky is 2,364.6 miles. The gas tank gets 25 miles per gallon on the highway. It means that total number of gallons required to cover the distance from Oakland California to Erlanger Kentucky would be
2364.6/25 = 472.92 gallons
If the gas cost $3.50 per gallon, it means that the total amount that it will cost to drive from Oakland California to Erlanger Kentucky would be
472.92 × 3.5 = $1655.22
Answer:
24 books
Step-by-step explanation:
Answer:
Awsten Knight
Step-by-step explanation:
<span>In order to determine the value of the numbers, we can set up algebraic equations to solve. For this case, we need to set up two equations since we have two unknown numbers. We do as follows:
let x = first number and y = second number
From the problem statement, we set up equations.
Equation 1 - the numbers have a difference of 0.7
x - y = 0.7
Equation 2 - the numbers have a sum of 1
x + y = 1
Solving for x and y via substitution method,
x - y = 0.7
(1-y) - y = 0.7
1 - 2y = 0.7
-2y = 0.7 - 1 = -0.3
y = 0.15 or 3/20
x - 0.15 = 0.7
x = 0.85 or 17/20
Thus, the two numbers are 0.15 and 0.85.</span>
