Answer:
5/(3x+2) = 7/(5x-2)
<=>5*(5x-2) = 7*(3x+2) (x is not equal to -3/2 or 2/5)
<=> 25x -10 = 21x +14 (x is not equal to -3/2 or 2/5)
<=> 4x = 24 (x is not equal to -3/2 or 2/5)
<=> x = 6 (valid)
Answer:
Step-by-step explanation:
a) you know interest is 22 and principal is 1000 and number of months is 1
b) I = rPm
r = I/Pm
c) r = 22 / 1000(1) = 0.022 /month or 2.2% per month
or 12(0.022) = 0.264 or 26.4 % per year.
d) interest is $15, loan period is 2 weeks which occurs once during the loan, interest rate is 10% per two weeks.
P = I/rm
e) P = 15 / 0.10 = $150
Notice that there are 52 weeks/yr / 2week loan period = 26 period in a year.
This means that the APR is 0.10(26) = 2.60 or 260% annual interest rate. Pretty good return on investment if you are the lender and can keep your money lent out. Not so good if you are the borrower.
