So if 3% on 5year term and then it increased 1% it won't be 5 anymore it would go by 6 because it has increased by 1% and just add 1200 6 times.
Answer:
5. (x-8)(x+2)
10. (x-5)(x-5) OR (x-5)^2
d - 3 = (-8)
+3 +3
d = -5
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Given:
Rate of simple interest = 5%
Time = 4 years
Total interest = $160
To find:
The amount borrowed by Austin from a credit union.
Solution:
The formula for simple interest is:

Where, P is principal, r is the rate of interest and t is the number of years.
Putting
in the above formula, we get



Multiply both sides by 5.

Therefore, Austin borrowed $800 from a credit union for 4 years.