You know that 6x+3 equals 45 because the two sides are equal. So you first put the equation 6x+3=45. Then you use the subtraction property of equality and subtract 3 from both sides. This gives you 6x=42. Then you divide 6 from both sides to get you final answer, x=7
Answer:
APR = 416%
EAR = 5370.60%
Step-by-step explanation:
Given:
Interest rate = 7.8% per week
Now,
In an year there are total 52 weeks
thus,
The APR (Annual percentage rate) = Interest rate × Total weeks in an year
or
APR = 8% × 52
or
APR = 416%
and, EAR ( Effective Annual Rate ) = ( 1 + r )ⁿ - 1
Here,
r is the interest rate per week
n is the total weeks in an year
thus,
EAR ( Effective Annual Rate ) = ( 1 + 8% )⁵² - 1
= ( 1 + 0.08 )⁵² - 1
= 53.7060
or
53.7060 × 100% = 5370.60%
