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alex41 [277]
3 years ago
11

What is the interest rate if... Principal = $1,250 Time = 4 years Interest = $285.

Mathematics
1 answer:
alexandr402 [8]3 years ago
8 0

Answer:

<h3>The answer is 5.7 %</h3>

Step-by-step explanation:

To find the rate given the principal , time and interest , we use the formula

r =  \frac{100I}{pt}  \\

where

p is the principal

t is the time

I is the interest

From the question

Principal = $1,250

Time = 4 years

Interest = $285

We have

r =  \frac{285 \times 100}{4 \times 1250}  =  \frac{28500}{5000}  =  \frac{285}{50}  \\  = 5.7

We have the final answer as

<h3>5.7 %</h3>

Hope this helps you

You might be interested in
1 (06.06 LC
Anika [276]

The question is incomplete. Here is the complete question.

A cell phone company is interested in the relationship between the number of texts per minute for their customers (y) and customer age. Based on the data collected, the least-squares regression line is y=3.27+2.14x, where x is the number of years by which age exceeds 12. Which of the following statements best describes the meaning of the slope of the least-squares regression line?

a. For each increase in age of 1 year, the estimated number of texts per minute increases by 3.27.

b. For each increase in age of 1 year, the estimated number of texts per minute increases by 2.14.

c. For each increase of one text per minute, there is an estimated increase in age of 3.27 years.

d. For each increase of one text per minute, there is an estimated increase in age of 2.14 years.

e. The slope has no meaning because the units of measure for x and y are not the same.

Answer: b. For each increase in age of 1 year, the estimated number of texts per minute increases by 2.14.

Step-by-step explanation: The <u>least-squares</u> <u>regression</u> is a method of fitness, i.e., it fits a data set of number into an equation.

In this case, the relationship between number of texts per minute and customer age is given by a line equation:

y=3.27+2.14x

in which, y represents the number of texts per minute and x is the age.

In a line equation, slope is the measure of steepness, i.e., how inclined the line is.

In the least squares regression line, slope is 2.14 and it means, in each additional year, the number of texts increase by a factor of 2.14, which is the correct alternative.

5 0
2 years ago
Last month, Steven had $4285.68 that he divided into two accounts. He deposited 1/3 into a savings account. He deposited the res
serg [7]
3/3-1/3=2/3 in checking account

1/3=4285.68/3=1428.56 in his saving account
2/3=1428.56x2=$2857.12 in his checking account#

hope this helps!/
4 0
2 years ago
The probability of getting a head when a biased coin is tossed is 2/5. The coin is tossed three times. Find the following probab
NeTakaya

Answer:

<u>P(three tails) = 27/125 or 21.6%</u>

<u>P(two tails followed by one head) = 18/125 or 14.4%.</u>

Step-by-step explanation:

1. Let's review the information provided to us to answer the questions correctly:

Probability of getting a head when a biased coin is tossed = 2/5

therefore,

Probability of getting a tails when a biased coin is tossed = 3/5

2. Find the following probabilities and select the correct solution.

P(three tails) =

3/5 * 3/5 * 3/5 = 27/125 or 21.6%

P(two tails followed by one head) =

3/5 * 3/5 * 2/5 = 18/125 or 14.4%.

6 0
2 years ago
Please help!!<br> I don’t know what to do
ira [324]

Answer:

x = 14.4

Step-by-step explanation:

Similar means that the figures are proportional to each other. Because of this, we can form a problem. \frac{9}{5} (the short side lengths) = \frac{x}{8} (the long side lengths). Now we can solve this by cross-multiplying. If we multiply 9 · 8 we get 72, and 5 · x is 5x. 72 = 5x. Now divide both sides by 5. 72 ÷ 5 = 14.4. Therefore, x should be equal to 14.4. Does this make sense?

6 0
2 years ago
Mike has a credit rating of 720. Tyler has a credit rating of 560. Mike and Tyler apply for identical loans from Park Bank. Mike
Eva8 [605]

Answer:

6.2%

Step-by-step explanation:

Credit rating is an evaluation of the credit risk of a borrower, that how often a person is going to repay their debt, by credit rating it predicts the ability of the debtor to payback.

Mike has credit rating = 720

Tyler has credit rating = 560

Both are approved for loan. Mike's Credit score is higher, which means he is a much safer debtor as compared to Tyler. Mike will be able to pay back much easily than Tyler. Therefore Mike interest rate is 3.2%

Interest rate of Tyler is higher as he is not that trusted and has low Credit rating. Tyler is approved for a loan that charged 3 percentage points higher because of his inferior credit rating so it interest on the loan will be

Interest = 3.2%+3% = 6.2%

   

4 0
2 years ago
Read 2 more answers
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