The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.
<h3>What is the interest rate behind a pay back?</h3>
In this situation we assume that the loan does not accumulate interests continuously in time. Hence, the <em>interest</em> rate for paying the loan back 75 days later is:
575 = 525 · (1 + r/100)
50 = 525 · r /100
5000 = 525 · r
r = 9.524
The loan has an <em>interest</em> rate of 9.524 % for 75 days. <em>Simple annual interest</em> rate is determine by rule of three:
r' = 9.524 × 365/75
r' = 46.350
The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.
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Answer:
1.5
Step-by-step explanation:
As the common difference is not same for all terms, the given sequence is a geometric sequence
the standard formula for a geometric sequence is:
The formula to calculate common ratio is:
Dividing the term by previous term
So,
r = 12/8 = 18/12 = 27/18 = 1.5
The value for common ratio will be:
1.5 ..
Type it into the app or online on ‘Desmos’ it a really good graphing calculator. I hope this helps
I presume you're talking about number 3?
Solution
I = prt (I being the interest)
I =
I = 1,250$
Im Guessing this is a true and fasle
So the answer would be False
