Answer:
x = 8
Step-by-step explanation:
By first drawing a photo, pasted below, you can plot your points. Then use the formula:
a/c = b/d to plan out your equation
3x - 8/x = 16/x
Cross multiply so you then have:
16x = 3x^2 - 8x
24x = 3x^2
8 = x
To check:
3(8) - 8 = 16
24 - 8 = 16
16 = 16
Using simple interest, it is found that:
Simple interest is used when there is a single compounding per time period.
The amount of interest after t years in is modeled by:
In which:
In this problem, the amount paid was of 36 monthly payments of
$196.80, hence:
36 x 196.80 = $7084.8.
The total amount paid was of $7,084.8.
The original price is of $6,500, hence the finance charge was of:
7084.8 - 6500 = $584.8.
For interest, we have that:
, hence:
The simple interest rate was of 3%.
More can be learned about simple interest at brainly.com/question/25296782