17 is my answer. Make sure to study all the material before taking any major Test or Quizzes.
Happy studying ^-^
Ava's sister paid a 4.5% annual interest rate
Her sister paid $54 more than she borrowed, divide that by 3 (years till she paid)
54/3 = 18
That's $18 for every year she'd had the $400 loan out, divide it by 4 to get the percentage
18/4 = 4.5/100 = 4.5%
Answer:
Step-by-step explanation:
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
step 1
Find the number of time periods t
in this problem we have
substitute in the formula above and solve for t
step 2
what will Rs 600 amount to at 11% in same time?
we have
substitute in the formula