Answer:
3%
Step-by-step explanation:
Blake bought a new car. He borrowed $12,500 from the bank. After 4 years he had paid off the loan and paid $1500 in interest. What rate did he borrow at?
This is a simple interest question
The formula to find the rate is given as:
Equation:
r = (1/t)(A/P - 1)
t = time = 4 years
P = Principal = $12500
I = Simple Interest = $1500
A = Total Amount = Principal + Simple Interest = $12500 + $1500
= $14000
Calculation:
Solving our equation:
r = (1/4)((14000/12500) - 1) = 0.03
r = 0.03
Converting r decimal to R a percentage
R = 0.03 * 100 = 3%/year
Answer:55
Step-by-step explanation:
The constant that changes proportionality into equality...
The probability that the card is a football card is 20 out of 50 or 40%
the probability that the card is a basketball card is 10 out of 50 or 20%
= 3.5, so 75 - 3.5 = 71.5, and 71.5 =
so your answer is
. I hope this helps. :D