Answer: Rs. 11,520
Step-by-step explanation:
As the method of compounding is not stated, the default of simple interest will be used.
Simple interest is a fixed amount that is paid over the course of the loan and is based on the original amount borrowed.
Formula is:
Amount owed = Amount borrowed * ( 1 + rate * time)
= 8,000 * ( 1 + 8% * 5.5 years)
= 8,000 * 1.44
= rs 11,520
$1,000/12 = 83.3 repeated
Each person will reserve about $83.
Answer:
m = 8 Please brainliest!
Step-by-step explanation:
Simplifying
7m + -6m = 8
Combine like terms: 7m + -6m = 1m
1m = 8
Solving
1m = 8
Solving for variable 'm'.
Move all terms containing m to the left, all other terms to the right.
Divide each side by '1'.
m = 8
Simplifying
m = 8