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Galina-37 [17]
3 years ago
5

Your bank gives you a special loan of $112,000. At the end of 30 years, you will pay the bank $176,400 in simple interest. What

is the annual interest rate on your loan?

Mathematics
2 answers:
Olenka [21]3 years ago
7 0
In the given problem there are several information's worth taking note of. Based on these information's the rate on the loan can be calculated.It is already given that the Principal amount is $112000. Time is given as 30 years and the final amount as $176400.
Now we have to find the amount of interest first
Interest amount = (176400 - 112000) dollars
                           = 64400 dollars
As per the formula of simple interest we know that
Interest = Principal * Rate of interest * Time
Rate of Interest = (Principal * Time)/Interest amount
                          = (112000 * 30)/64400
                          = 3360000/64400
                          = 52.17
So the rate of interest on the loan for the period of 30 years was 52.17%
o-na [289]3 years ago
5 0

Answer:

5.25

Step-by-step explanation:

I got this problem on imagine math and I got it right (the second time)

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Step-by-step explanation:

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2 years ago
Question 22 Petrolyn motor oil is a combination of natural oil and synthetic oil. It contains 8 liters of natural oil for every
Setler [38]

Answer:

897 liters

Step-by-step explanation:

The motor oil is composed of 8 liters of natural oil and 5 liters of synthetic oil. This means there is a ratio of 8/5. We have 552 liters of natural oil to y liters of synthetic. This is the ratio 552/y. Create a proportion that compares the two ratios.

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What is the sequence of second differences for ax +b?
MAVERICK [17]

Answer:

ZERO

Step-by-step explanation  

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now differentiate Y with respect to X

dY/dX = d (ax + b)/ dx

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