A suitable calculator can row-reduce the augmented matrix.
first number: 3
second number: 1
third number: 8
first number: 3
second number: 1
third number: 8
The question of the week! (Please show your work!)
1 answer:
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Given:
Rate of simple interest = 5%
Time = 4 years
Total interest = $160
To find:
The amount borrowed by Austin from a credit union.
Solution:
The formula for simple interest is:
Where, P is principal, r is the rate of interest and t is the number of years.
Putting in the above formula, we get
Multiply both sides by 5.
Therefore, Austin borrowed $800 from a credit union for 4 years.