Given:
Amount = 8700
Time = 3 years
Rate of interest = 24% per annum
To find:
The principal values.
Solution:
Formula for amount:
Where, A is amount, P is principal, r is the rate of interest and t is the number of years.
Putting 
, we get
Divide both sides by 1.906624.
Therefore, the principal value is about 4563.04.
Answer:
square root of 325
Step-by-step explanation:
Answer:
200 miles
Step-by-step explanation:
First, set up the equations.
plan 1: initial fee of $55.96, $0.12 per mile
plan 2: initial fee of $63.96, $0.08 per mile
We want to know at what distance will the cost be the same. So, set the equations equal to each other.
0.12x + 55.96 = 0.08x + 63.96
Combine the variables.
0.04x + 55.96 = 63.96
Combine the constants.
0.04x = 8
Divide by 0.04 to isolate x.
x = 200 miles
Check by plugging x back into each equation.
y = 0.12(200) + 55.96
y = 24 + 55.96
y = $79.96
y = 0.08(200) + 63.96
y = 16 + 63.96
y = $79.96
You are correct!
