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:
y = 3x + 15
Step-by-step explanation:
1. Find the reciprocal of the slope and change signs: -3
2. y = 3x + b
3. Plug in x and y --> b = 15
4. Make your equation using y = mx + b: y = 3x + 15
Answer:
-0.55 + 0.53a
Step-by-step explanation:
-0.55 – 0.47a + a
To find an expression equivalent to this, we must simplify the equation to a reasonable extent;
-0.55 – 0.47a + a
= -0.55 + 0.53a
= 0.53a - 0.55
The expression equivalent to the given one is -0.55 + 0.53a or 0.53a - 0.55
