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2 years ago

Is there any additional information in the word problem???

Mathematics

1 answer:

Blababa [14]2 years ago

4 0

The answer is $16.03

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Montoya Construction needs to borrow $375,000 to build a road to install utilities in a small subdivision. It borrows the funds

MissTica

Step 1

Given;

$\begin{gathered} \text{Principal(p)= \$375000} \\ \text{First rate = 8\%=}\frac{8}{100}=0.08 \\ \text{Second rate = 20\%= }\frac{20}{100}=0.2 \\ \text{Time}=\frac{90}{365}=\frac{18}{73} \end{gathered}$

Required; To find the difference in interest between the two periods.

Step 2

State the formula for simple interest

$A=P(1+rt)$

Step 3

Find the interest when the rate is 8%

$\begin{gathered} A=375000(1+(0.08\times\frac{18}{73}) \\ A=375000(1+\frac{36}{1825}) \\ A=\text{\$}382397.26 \end{gathered}$

Therefore the interest is given as;

$A-P=382397.26-375000=\text{\$}7397.26$

Step 4

Find the interest in 1980 with a 20% rate

$\begin{gathered} A=375000(1+(0.2\times\frac{18}{73}) \\ A=\text{\$}393493.15 \end{gathered}$

The interest is given as;

$A-p=393493.15-375000=\text{\$}18493.15\text{ }$

Step 5

Find the difference in interest between the two rates.

$\text{\$}18493.15-\text{\$}7397.26=\text{\$}11095.89$

Hence, the difference in interest between the two rates = $11095.89

4 0

1 year ago

Zuri is stuck in traffic. She notices that she only drove 3 miles in 15 minutes.

makkiz [27]

Answer:

0.2

Step-by-step explanation:

3/15=0.2

6 0

3 years ago

Grade 7th math anybody know the answer

TiliK225 [7]

Our answer is attached.

I hope it helped.

4 0

2 years ago

Solve this problem using the Distributive Property.<br><br> 2 ( 7 + 8 ) =

maria [59]

Answer:

Step-by-step explanation:

Original Equation: 2(7 + 8)

So you have to multiply 2 by 7 which equals 14

Then you multiply 2 by 8 which equals 16

Your equation should now look like this: 14 + 16

Add 14 and 16 together.

Your answer is 30

Hope I helped :)

Please condsider brainliest

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3 years ago

Charlie picks 468 tomatoes from his garden. He puts 12 tomatoes in each bag. He sells each bag for $8. What TWO equations can Ch

jeka57 [31]

Answer:

Step-by-step explanation:

5 0

2 years ago