Answer:
Annual rate of interest will be 132.876 %
Step-by-step explanation:
We have given amount which he has to pay A = $611.03
He does a monthly payment of $26.17
So principle amount P = $26.17
Time = 2.5 years
As payment is done monthly so time period = 12×2.5 = 30 periods
Future amount is given by
%
So annual rate will be 11.07×12 = 132.876%
Annual rate of interest will be 132.876 %
Answer:
Step-by-step explanation:
x +2y = 8 ----- (I)
x = 8 - 2y
x - 3y = 6 -------(II)
Substitute x = 8 - 2y in equation (II)
8 - 2y - 3y = 6 {add like terms}
8 - 5y = 6
Subtract 8 form both sides
-5y = 6- 8
-5y = -2
Divide both sides by -5
-5y/-5 = -2/-5
y = 2/5
Substitute y = 2/5 in equation (I)
x = 36/5
Answer:
32.97 ft i think
Step-by-step explanation:
Answer:
$120
Step-by-step explanation:
Simple interest = principal (P) × rate (R) × time (T) / 100
Principal = $800
Rate = 3%
Time = 5 years
Simple interest = principal (P) × rate (R) × time (T) / 100
= (800 × 3 × 5) / 100
= 12,000 / 100
= 120
Simple interest = $120
The total amount of interest Mr. Espinoza will have at the end of 5 years is $120