Answer:
Car loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest. Certificates of deposit (CDs) pay a specific amount in interest on a set date, representing simple interest
According to given information,
Equation of Melinda Earning = 75 + 12x
Equation of Marcus Earning = 15x
Where, x = Number of hours they worked.
Now, we need to calculate when they will have same amount of money, so for that instance they shall equal to each other.
75 + 12x = 15x
15x - 12x = 75
3x = 75
x = 75/3
x = 25
After 25 hours, they will have the money = 15(25) = $375
So, your final answer is $375
Hope this helps!
Answer:
8 and 1 third.
Step-by-step explanation:
Answer:
See Explanation
Step-by-step explanation:
