6% or 0.06 is the simple interest rate the bank pays him.
<u>Step-by-step explanation:</u>
Sir Ving Spoon earned $5,436 on his $7,550 certificate of deposit.
From this given information,
It can be determined that the Principal amount is $7550 and the interest amount is $5436.
The CD is for 12 years. Therefore, the number of years is 12.
<u>To find the interest rate (r) :</u>
Using the simple interest formula,
Interest = P×r×t
where,
- P is the principal amount = $7550
- r is the rate of interest.
- t is the number of years = 12
⇒ 5436 = 7550 × r × 12
⇒ 5436 = 90600 × r
⇒ r = 5436 / 90600
⇒ r = 0.06
Multiply by 100 to represent in rate %
⇒ r = 0.06 × 100
⇒ r = 6%
∴ 6% or 0.06 is the simple interest rate the bank pays him.
Answer:
Step-by-step explanation:
Let the no of cars be x and no of buses be y.
x + y = 60 -> y = 60 - x
6x + 30y = 600
with the available equations let us calculate the values of x and y.
6x + 30 * (60-x) = 600
6x + 1800 - 30x = 600
24x = 1200
x cars = 50
y buses = 10
maximum profit = 50 * 2.5 + 10 * 7.5 = $200
Step-by-step explanation:
plug y value :
10=1/2x+8
1/2x=2
x=4
Answer:
He will need to buy 2 six-packs and then 4 single bottles.
Explanation:
2((4)2) = 16 (This is how many he will need to get)
16/6 = 2 packs and 4 leftover
