The balance B at the end of time t is given by
B = P +Prt
8250 = 6000 +6000*r*12.5 . . . . substitute the given information
2250 = 6000*r*12.5 . . . . . . . . . . .subtract 6000
2250/(6000*12.5) = r . . . . . . . . . .divide by the coefficient of r
r = .03 = 3%
Clint earned 3% annual simple interest on his savings.
So Katelyn bought 5.68 pounds of peaches. And one pound of peaches cost $1.49. So that would mean that we would have to multiply the pounds of peaches she bought, with how much each pound costs. 5.68 × 1.49 = ?
Once you multiply these two decimals, you would get 8.4632. So she spent $8.4632 on 5.68 pounds of peaches. You would multiply the two decimals to find how much she spent in all.
The average can be calclculated as follows:
average = sum of number/number of numbers
average = (19+45) / 2 = 64/2 = 32
<span>The simple interest formula is:
A = P · (1 + r · t)
where:
A = total amount
P = principal
r = rate
t = time
Let's solve for r:
A = P + P · r · t
P · r · t = A - P
r = (A - P) / (P · t)
The quantity A - P is defined as the Interest, therefore:
r = I / (P <span>· t)
= 1020 / (8500 </span>· 4)
= 0.03
Therefore the rate was 3%.
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