What is 72/18 as a decimal

Mathematics

1 answer:

Vikki [24]3 years ago

3 0

The answer to your question is 4

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Which of these are mathematical laws that help us solve numerical problems? decimals graphs formulas percentages fractions

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7. A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. What is the effective

Elina [12.6K]

Answer:

The effective interest rate, rounded to the nearest tenth, is 0.1%.

Step-by-step explanation:

The banker's rule is the simple interest formula.

The simple interest formula is given by:

$E = P*I*t$

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly) and t is the time, in years.

The effective interest rate is given by the following formula:

$E_{IR} = \frac{E}{P}$ .

In this problem, we have that:

A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. We consider that the year has 360 days. This means that $P = 6200, I = 0.0884, t = \frac{40}{360} = \frac{1}{9}$ .