6% or 0.06 is the simple interest rate the bank pays him.
<u>Step-by-step explanation:</u>
Sir Ving Spoon earned $5,436 on his $7,550 certificate of deposit.
From this given information,
It can be determined that the Principal amount is $7550 and the interest amount is $5436.
The CD is for 12 years. Therefore, the number of years is 12.
<u>To find the interest rate (r) :</u>
Using the simple interest formula,
Interest = P×r×t
where,
- P is the principal amount = $7550
- r is the rate of interest.
- t is the number of years = 12
⇒ 5436 = 7550 × r × 12
⇒ 5436 = 90600 × r
⇒ r = 5436 / 90600
⇒ r = 0.06
Multiply by 100 to represent in rate %
⇒ r = 0.06 × 100
⇒ r = 6%
∴ 6% or 0.06 is the simple interest rate the bank pays him.
Answer:
the student that is correct is Gene and the solution is x=10
A: High School P, because it has the lowest <span>σ
B: High School N, because it has the highest mean</span>
1. X=2+1/2y+1/2z
2. X=-1+2y+z
3. X=16/3-1/3y-1/3z
Answer:
£2112
Step-by-step explanation:
To find Gavin's share, sum the parts of the ratio, 4 + 1 = 5 parts
Divide the win by 5 to find the value of one part of the ratio.
£8800 ÷ 5 = £1760 ← value of 1 part of ratio, thus
4 parts = 4 × £1760 = £7040 ← Gavin's share
Now repeat the process with the ratio for his family
1 + 6 + 3 = 10 parts
£7040 ÷ 10 = £704 ← value of 1 part of the ratio, thus
6 × £704 = £4224 ← wife's share
3 × £704 = £2112 ← son's share
Difference = £4224 - £2112 = £2112
Thus his wife gets £2112 more than the son
