Answer:
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Step-by-step explanation:
Answer:
If he lets the account go for 90 days, he will
pay an interest of $60
Step-by-step explanation:
Here, we want to calculate the interest Garvin will pay if he lets the account go for 90 days
Since 90 days is greater than 60 days, this means that he is going to pay a 12% annual interest rate
Thus, mathematically , the amount to pay will be;
12% of $500
= 12/100 * 500 = 6000/100 = $60
Answer:

Step-by-step explanation:
1) Expand

2) Simplify 6x - 36 - 5x + 35 to x - 1.

3) Cancle x on both sides.

4) Since −1 = 6 is false, there is no solution.
No Solution
Hence, this equation have no solution.
Answer:
The required rate of interest = 14.285%
Step-by-step explanation:
Here, The principal amount = 7,000
The final paid amount = 9,000
Time = 2 years
Let us assume the rate of interest = R
Now, Simple Interest = Amount - Principal
= 9,000 - 7,000 = 2,000
So, the SI on the given principal for 2 years = 2,000

or, R = 14.285%
Hence, the required rate of interest = 14.285%