Multiple choice question
1 answer:
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I FOUND YOUR COMPLETE QUESTION IN OTHER SOURCES.
PLEASE SEE ATTACHED IMAGE.
First, we define the variables:
x: number of years after 1950
f (x): amount of vinyl sold.
Then, with the variables defined, we have:
68594 vinyl records were sold in 1958 ---------> f (8) = 68594
91299 vinyl records were sold in 1961 ---------> f (11) = 91299
38720 vinyl records were sold in 1952 ---------> f (2) = 38720
161743 vinyl records were sold in 1967 ---------> f (17) = 161743
PLEASE SEE ATTACHED IMAGE.
First, we define the variables:
x: number of years after 1950
f (x): amount of vinyl sold.
Then, with the variables defined, we have:
68594 vinyl records were sold in 1958 ---------> f (8) = 68594
91299 vinyl records were sold in 1961 ---------> f (11) = 91299
38720 vinyl records were sold in 1952 ---------> f (2) = 38720
161743 vinyl records were sold in 1967 ---------> f (17) = 161743
Answer:
The interest rate was of 0.1173 = 11.73%.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this problem, we have that:
So
So
The interest rate was of 0.1173 = 11.73%.