Answer:
The amount of interest is $5580.
Step-by-step explanation:
Given : Jacob borrowed $30, 000 to start up his consulting business. The loan had simple interest rate of 6.2% for 3 years.
To find : The amount of interest he will pay with the loan ?
Solution :
Using interest formula,
Where, P is the principal P=$30,000
R is the rate of interest R=6.2%=0.062
T is the time t=3 years.
Substitute the value in the formula,
Therefore, The amount of interest is $5580.
Complete question
To find , Beau found
and
. He said that since 5 is between 4 and 9,
, is between 2 and 3. Beau thinks a good estimate for
, is
Is his estimate high or low? How do you know?
Answer:
The estimation is high because 5 is very close to 4 so will also be very close to
which is lower than the estimate
In order to get a good estimate
The first step is to choose a number between 2 and 3 let say 2.8 , 2,85 , 2.9 and the square them
i.e
From here we can see that lies between 2.2 and 2.3 but is closer to 2.2
So a good estimate for is 2.2
Step-by-step explanation: