Last season two running back's on the college football team rush for a combined 1550 yards one rushed four times as many yards a
2 answers:
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Answer:
The required rate of interest = 14.285%
Step-by-step explanation:
Here, The principal amount = 7,000
The final paid amount = 9,000
Time = 2 years
Let us assume the rate of interest = R
Now, Simple Interest = Amount - Principal
= 9,000 - 7,000 = 2,000
So, the SI on the given principal for 2 years = 2,000
or, R = 14.285%
Hence, the required rate of interest = 14.285%
Answer:
Interest Chaney earns after 3 years is $56.85
Step-by-step explanation:
Given:
Amount deposited = $1435.73
Simple annual interest rate = 1.32% = 1.32/ 100 = 0.0132
To find: Interest after 3 years
We know that the formula to calculate the interest amount is
Simple interest (S.I.) =
where,
P is the initial amount deposited
r is the rate of simple interest in percentage
t is the time in years for which interest is to be calculated
Substituting the known values in the formula, we get
S.I =
= 56.85
Hence the interest Chaney earns after 3 years is $56.85