Using the simple interest formula, it is found that the APR for the loan is of 4.472%.
<h3>What is the simple interest formula and when it is used?</h3>
Simple interest is used when there is a single compounding per time period.
The amount of money after t years in is modeled by:
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
The parameters for this problem are:
A(t) = 6 x 511.18 = 3067.08, A(0) = 3000, t = 0.5.
We solve the equation for r to find the APR.
1 + 0.5r = 1.02236
r = (1.02236 - 1)/0.5
r = 0.04472.
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Answer:
The mantle
Step-by-step explanation:
The Earth can be divided into four main layers: the solid crust on the outside, the mantle, the outer core and the inner core. Out of them, the mantle is the thickest layer, while the crust is the thinnest layer
Answer:
number 3
Step-by-step explanation:
Answer:
x = 0.667 and y = -0.6
Step-by-step explanation:
Given that,
6x + 5y = 1 ....(1)
6x - 5y = 7 ...(2)
We need to solve the above equations.
Subtract equations (1) and (2)
6x + 5y -(6x - 5y) = 1-7
6x+5y-6x+5y = -6
10y=-6
y = -0.6
Put the value of y in equation (1).
6x + 5(-0.6) = 1
6x = 1-5(-0.6)
6x = 4
x = 0.667
Hence, first step is to subtract equation (1) and (2) then put the value of y in equation (1).
25 minutes
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