Answer:
The exact interest on $5,870 at 12% is $410.9
Step-by-step explanation:
From the information provided we know that
Principal amount: $5,870
Interest rate: 12% -> 0.12
Time: 7 months (From June to December)
When you know the principal amount, the rate, and the time, the amount of interest can be calculated by using the formula:
where P is principal, r is the rate of interest and t is the time in years.
We need to convert the 7 months into 1 year.
Now we can use the above formula
Therefore the exact interest on $5,870 at 12% is $410.9
Answer:
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Answer:
Step-by-step explanation:
Given:
Profit in the month of June from first location is 
Profit in the month of June from second location is 
Now, total profit from the two locations can be obtained by adding the profits from each of the two locations.
Now, adding both the profits, we get:
Plug in the given values and simplify. This gives,
Now, we need to combine the like terms using commutative property.
Therefore, rearranging the terms, we get:
Therefore, the correct option is the first option.
X= the number
.05=.1x Set up into an equation.
5/100= 1/10x Divide 5/100 by 1/10 to find x.
5/10=x You get x
x=1/2 Reduce into simplest form.
