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Norma-Jean [14]
3 years ago
10

What simple interest rate would allow $6000 to grow to an amount of $14550 in 10 years?

Mathematics
1 answer:
Harman [31]3 years ago
8 0

Answer:

\boxed{ \bold{ \huge{  \boxed{ \sf{ \: 14.25 \: \% \: }}}}}

Step-by-step explanation:

Given,

Principal ( P ) = $ 6000

Amount ( A ) = $ 14550

Time ( T ) = 10 years

Rate ( R ) = ?

<u>Finding </u><u>the </u><u>Interest</u>

The sum of principal and interest is called an amount.

From the definition,

\boxed{ \sf{Amount =  \: Principal + Interest}}

plug the values

⇒\sf{14550 = 6000 + Interest}

Swap the sides of the equation

⇒\sf{6000 + Interest = 14550}

Move 6000 to right hand side and change its sign

⇒\sf{Interest = 14550 - 6000}

Subtract 6000 from 14550

⇒\sf{Interest = \: 8550 \: }

Interest = $ 8550

<u>Finding </u><u>the </u><u>rate </u>

{ \boxed{ \sf{Rate =  \frac{Interest \times 100}{Principal \times Time}}}}

plug the values

⇒\sf{ Rate = \frac{8550  \times 100}{6000 \times 10} }

Calculate

⇒\sf{Rate =  \frac{855000}{60000} }

⇒\sf{Rate = 14.25 \: \% \: }

Hope I helped!

Best regards!!

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Help me with my homework​
Kay [80]

Answer:

a.\frac{x+10}{5} = 9.5

b. $37.50

Step-by-step explanation:

To find out how much the 5 were paying in total, we can add the bill and the tip. This gives us x + 10. Since there are 5 people and they are splitting the bill equally, the total amount would be divided by 5 to get the amount each person pays: \frac{x+10}{5}. We already know the amount they each paid, as it is given as $9.50. Both expressions represent the same thing, do we can set them equal to each other:

9.5 = \frac{x+10}{5}

Now, we can solve.

First, we can multiply by 5 on both sides to get:

47.5 = x + 10

And then subtract 10:

x = 37.5

This means the bill before the tip was $37.50

4 0
3 years ago
PLEASE?????????????????????
faltersainse [42]
X+y<10x+y<10 and x>4x4
8 0
3 years ago
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Plz help question below
bearhunter [10]
Plan A costs a total of $95 since it says $95 for unlimited talk and text.

Plan B:
(.10 x 800) + (.05 x 1000)
The (.10 x 800) represents 10 cents per talk minute for 800 minutes.
The (.05 x 1000) represents 5 cents per text message for 1000 text messages.
Solve:
.10 x 800 = 80
.05 x 1000 = 50
80 + 50 = 130
This means Plan B will cost him $130 under these conditions.

Plan C:
20 + ((.05 x 800)+(.05 x 1000))
The 20 + represents a flat rate of $20 per month.
The (.05 x 800) represents 5 cents per call minute.
The (.05 x 1000) represents 5 cents per text.
Solve:
.05 x 800 = 40
.05 x 1000 = 50
20 + 40 + 50 = 110
This means Plan C will cost him $110 under these conditions.

Plan D:
45 + (.10(800 - 500))
The 45 + represents a flat monthly rate of $45.
The (800 - 500) represents how many minutes he has to pay for with the 500 free.
The .10 is the cost per extra minute.
Solve:
800 - 500 = 300
.10 x 300 = 30
45 + 30 = 75
This means Plan D will cost him $75 under these conditions.

In short:
Plan A- $95
Plan B- $130
Plan C- $110
Plan D- $75 
The least expensive among these is Plan D, which only costs $75 per month.
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