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Artist 52 [7]
4 years ago
5

John received $9,000 in student loans. Part of the money he was able to borrow at 7% simple interest, but on the rest of the mon

ey he was charged 8.25% simple interest. At the end of the year he owed $706.25 in interest. How much did John borrow at each rate.
Mathematics
1 answer:
lidiya [134]4 years ago
6 0
He borrowed "a" at 7% and "b" at 8.25%

now, whatever "a" and "b" are, we know, his student loan was 9000, thus
a+b = 9000

now, he owes 7% or 7/100 for "a", what's 7% of a? well, 7/100 * a or 0.07a

he owes 8.25% of "b", how much is 8.25% of b? well, 8.25/100 * b or 0.0825b

now, we know, at the end of the year, he owed for both loans, 706.25 in interest
thus we know that 0.07a + 0.0825b = 706.25

thus   \bf \begin{cases}
a+b=9000\implies \boxed{b}=9000-a\\
0.07a+0.0825b=706.25\\
----------\\
0.07a+0.0825\left(\boxed{9000-a}  \right)=706.25
\end{cases}

solve for "a", to see how much he borrowed at 7%

what about "b"? well, b = 9000-a
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$800 is invested at a rate of 7%. What will be the total amount of the investment after 3 1/2 years?
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A = $996.00

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Equation:

A = P(1 + rt)

Where:

A = Total Accrued Amount (principal + interest)

P = Principal Amount

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r = Rate of Interest per year in decimal; r = R/100

R = Rate of Interest per year as a percent; R = r * 100

t = Time Period involved in months or years

From the base formula, A = P(1 + rt) derived from A = P + I and I = Prt so A = P + I = P + Prt = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

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Solving our equation:

A = 800(1 + (0.07 × 3.5)) = 996

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The total amount accrued, principal plus interest, from simple interest on a principal of $800.00 at a rate of 7% per year for 3.5 years is $996.00.

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Step-by-step explanation:

A probability is the number of desired outcomes divided by the number of total outcomes.

In this problem, we have that:

Total outcomes:

100 customers

Desired outcomes:

A clothing vendor estimates that 78 out of every 100 of its online customers do not live within 50 miles of one of its physical stores. So the number of desired outcomes is 78 customers.

Using this​ estimate, what is the probability that a randomly selected online customer does not live within 50 miles of a physical​ store?

p = \frac{78}{100} = 0.78

78% probability that a randomly selected online customer does not live within 50 miles of a physical​ store.

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