Answer:
Bank One is offering a simple interest rate of 6.25% per annum.
Step-by-step explanation:
Given that Bank One offers a certificate of deposit that pays $ 5,000 in four years for exchange for $ 4,000 today, to determine what interest rate is Bank One offering the following calculation must be performed:
(5000 - 4000) / 4 = X
1000/4 = X
250 = X
4000 = 100
250 = X
250 x 100/4000 = X
25000/4000 = X
6.25 = X
Therefore, Bank One is offering a simple interest rate of 6.25% per annum.
Answer:
25 = 23
100 = X
Cross multiply and you will have:
25x = 2300
Step-by-step explanation:
Dave pays $15 and tax is $1.2 so dave spent a total of $16.20.
Mel pays $20 and tax is $1.6 so Mel spent a total of $21.60.
All you need to do is convert the percent to a decimal, so take 8 and divide by 100 and you get 0.08. then you need to multiply the cost by the tax so 15*0.08=1.2 then you just add tax to original amount 15+1.2=16.2
:)
Answer:
7/6
Step-by-step explanation:

Answer:
x = 0
Step-by-step explanation: