Find the simple interest pay for 7 years on a $600 loan at 5% per year.

Mathematics

1 answer:

babunello [35]3 years ago

6 0

The simple interest would be $210. I hope that helps!

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Can someone please explain to me why and how this equates to 7.4%??????

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so, you're correct, it is the Food industry, and it went down from 2.7 to 2.5, well, so it really went down 2.7 - 2.5 or 0.2.

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$\bf \begin{array}{ccll} amount&\%\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ 2.7&100\\ 0.2&x \end{array}\implies \cfrac{2.7}{0.2}=\cfrac{100}{x}\implies x=\cfrac{0.2\cdot 100}{2.7}\implies x\approx\stackrel{\%}{7.4}$