A bank says you can double your money in 8 years if you put $2,000 In a simple interest account. what annual interest rate does
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The cost of fencing the path is Rs 1539.38.
It is required to find the cost of fencing the path.
<h3>What is circle?</h3>A circle is a closed two-dimensional figure in which the set of all the points in the plane is equidistant from a given point called “centre”. The perimeter around the circle is known as the circumference.
Given that:
radius of a circular path is 7m.
Rate = Rs .35 per meter
We know that
Circumference of circle =
Circumference of circle=43.98 m
Now,
Cost = Circumference × Rate
Cost =43.98× 35
Cost = Rs 1539.38
Therefore, the cost of fencing the path is Rs 1539.38.
Learn more about circle here:
#SPJ1
Answer:
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Monthly installment payment is $597 .Total payments is $28,649
Step-by-step explanation:
Down payment = $29,000×7 ÷100= $2,030
Loan amount = $29,000 - 2,030 = $26,970
Interest rate = 2.99%
Repayment period = 48 months (4 years)
simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.
= 26,970 (1+0.0299) × 4) +p =$28,648.51
Monthly payment = $596.84 (or) $597 (rounded off)
Total payments is $28,649