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MA_775_DIABLO [31]
3 years ago
6

Ralph deposited $3,000 into a bank account that earn simple interest each year after 3.5years he had earn $226.50 and interest i

f no money was deposited into or withdrawn from the account what was the annual interest rate
Mathematics
1 answer:
PilotLPTM [1.2K]3 years ago
4 0

Answer:

r=0.02147=2.147%

Step-by-step explanation:

Interest=principal X interest rate X time(yearly)

$226.50=$3000 * R * 3.5year

r=0.02147=2.147%

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15. The dollar amount y that remains to be repaid on a loan x months after the loan is issued is represented by y=-1000x + 8000.
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Answer:

1) $8000

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3) 8 months, since y represents our remaining amount to be paid, we set it equal to 0, to see when $0 need to be paid. Solving for x (months), we can it to be 8.

Step-by-step explanation:

We have the equation y = -1000x + 8000 which follows the linear equation:

y = mx + b, where m is our slope and b is our y-intercept

1) The initial balance can be found with our constant "b" which in this case is 8000. You can also plot the function of y and you will find that 8000 is the intercept when x = 0, aka the start

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3) To find how many months it will take for the loan to be repaid, let's solve for x when y = 0.

0  = -1000x + 8000

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