2 years ago

Determine the rate and the unit rate. $18 for 6 volleyballs

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1 answer:

Nadusha1986 [10]2 years ago

5 0

Answer:

3.00$ is the answer

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If the simple interest on $7,000 for 7 years is $2,940, then what is the interest rate?

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$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$2940\\ P=\textit{original amount deposited}\dotfill & \$7000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &7 \end{cases} \\\\\\ 2940=7000(\frac{r}{100})(7)\implies \cfrac{2940}{7000(7)}=\cfrac{r}{100}\implies \cfrac{3}{50}=\cfrac{r}{100} \\\\\\ 300=50r\implies \cfrac{300}{50}=r\implies \stackrel{\%}{6}=r$