All categories

3 years ago

If the person borrowed $3000 for 3 years at a rate of 2%, how much interest will they owe for the loan

1 answer:

3 0

In this case were going to solve the question using "simple interst", so since were looking for the interest it will be I= PxRxT (I stands for "interest", P stands for "principal", R stands for "rate" and T stands for "time")

so P is $3000

R is 2%

and T is 3 years

so we'll have to turn our rate into a decimal which is 2% = .02

now to start the problem:

I= (3000)(.02)(3) (means 3000 x .02 x 3)

I= $180 is your answer

You might be interested in

Assume that all conditions are met. The mean of the differences was 1. 33 and the standard deviation of those differences was 2.

Maurinko [17]

The test statistic for this procedure is using two sample T-test is 0.458.

Definition of Two Sample T-test

A variation of the Student's t-test used to determine if two sample means are substantially different is known as the two sample T-test (also known as Welch's t-test, Welch's adjusted T, or unequal variances t-test). The test's degrees of freedom have been changed, which generally boosts the test's power for samples with unequal variance.

T-Test Statistic for The Procedure

It is given that mean of the differences = 1.33

And, the standard deviation of the differences, standard error = 2.90

The test static formula is given as,

t = (estimate - hypothized value) / standard error

Here, t is the t- test statistic, and estimate is the mean of the differences.

Since it is given that all conditions are met, the hypothized value can be taken as 0

Substituting substituting estimate = 1.33 and standard error = 2.90 in the t-test statistic formula, we get,

t = (1.33-0)/2.90

or t = 0.458

learn more about t-test here:

brainly.com/question/14128303

#SPJ4

8 0

2 years ago

What is the overlap of Data Set 1 and Data Set 2?

Dima020 [189]

<h3>Answer: A) high</h3>

Explanation:

Each set spans from 3 to 7 as the min and max. Since we're dealing with the same endpoints, we have perfect overlap.

4 0

3 years ago

Aaron’s boat travels 9 mile per hour in still water. The speed of the river is 4 miles per hour. How long will it take Aaron to

ella [17]

Answer:

who will answer??

Step-by-step explanation:

7 0

3 years ago

A snail traveled 3 over 8, of an inch in 3 minutes. How many inches can the snail travel in 9 minutes? Express the answer as a d

Elanso [62]

So, first of all, let's convert the fraction $\frac{3}{8}$ into a decimal, which would be 0.375 (3 divided by 8)

The snail travels this far in 3 minutes. To find out how far it travels in nine minutes, we have to find out how many times 3 goes into 9.

9 / 3 = 3

Now. we simply multiply our decimal by three in order to get our answer!

0.375 x 3 = 1.125 inches

The answer is 1.125 inches!

3 0

3 years ago

In the document below it´s assigned a portion of the book, from there you need to choose a chapter, re-do the situation that the

Molodets [167]

What are you asking anyways hope you get a good grade

6 0

3 years ago

Read 2 more answers