Answer:
5.5%
Step-by-step explanation:
To find the interest rate, use the equation: I = prt
I = Interest = $6,600
p = principal = $15,000
r = rate = unknown
t = time = 8 years
Now plug the numbers into the equation.
6,600 = 15,000 * r * 8
6,600 = 120,000 * r
Now isolate the variable by dividing both sides of the equation by 120,000.
0.055 = r
Now change the rate to a percent by moving the decimal point 2 digits to the right.
5.5% = r OR r = 5.5%
2 7/8 + 2 3/8= 4 10/8, which equals 5 2/8, which is also equal to 5 1/4
1/4n-8=1/4 would be first because it says less than so you switch it. then you put the 8 since it's in the same subtraction problem. Then the word "is" indicates the equal sign. and the n represents "a number" since it is unknown.
What you can do is multiply 400*20= 8,000. From here, we know that 399*20 is just one less group of 20 than 400. Therefore, we can subtract (1*20) from 8,000 to get the final answer.
8000-20=7980
Hope this helps!
