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The annual interest rate is 3.5%.
Solution:
Given Interest (I) = $26.25
Principal (P) = $500
Time (t) = 18 months
Rate of interest (r) = ?
Time must be in years to find the rate per annum.
1 year = 12 months
Divide the time by 12.
Time (t) =
years
Now, find the rate of interest using simple interest formula.
<u>Simple interest formula:</u>






⇒ r = 3.5%
Hence the annual interest rate is 3.5%.
Answer:
Step-by-step explanation:
x + y = 10
22x + 14y = 172
-22x - 22y = -220
22x + 14y = 172
-8y = - 48
y = 6 ceramic vases
x + 6 = 10
x = 4 glass vases
Answer:
the answer is 5n+8
Step-by-step explanation:
4n+n=5n
6+2=8
Answer:
T=29.95a + 13.95c
Step-by-step explanation:
For this equation let a=amount of adult tickets, c=amount of children tickets, and T=the total cost. Since each adult ticket costs 29.95 dollars that needs to be multiplied by the number of adult tickets to see how much was spent on adults, the same goes for the price and number of children tickets. Finally, both of those totals need to be added together to see how much is spent overall for all of the guests.