The loans interest rate is 6.57305%
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Answer:
Step-by-step explanation:
Givens
Area = L * w
w = x
l = x + 4
Area = 32
Solution
32 = x(x + 4)
32 = x^2 + 4x
x^2 + 4x - 32
(x + 8)(x - 4)
Only x - 4 is going to make any sense
x - 4 = 0
x = 4
The width is 4
The length is 4 + 4 = 8
4*8 = 32 which is the area.
The simplest form of an interest equation is A = P(1+rt)
where A = the total amount of money at the end, P = the principal (or amount of money you started with), r = the rate in percent, and t = the time in years.
In this case, P = 15000, r = 0.03 (because 3% in decimal form is 0.03), and t = 1:

So, after 1 year he will get $15450 back, making him $450 more.