<h3>Y
ou have the correct answer</h3><h3>Interest rate = 21.5%</h3>
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Work Shown:
i = P*r*t .... simple interest formula
i = simple interest
i = 2075-1000 = 1075
P = 1000 = amount borrowed (principal)
r = unknown interest rate
t = 5 = time in years
So,
i = P*r*t
1075 = 1000*r*5
1075 = 5000r
5000r = 1075
r = 1075/5000
r = 0.215
r = 21.5%
Your answer is 26.9 so u could round it up to 27
Step-by-step explanation:
to write a line equation we need minimum of two points. basicaly a line is written in the form y=mx+c where, m is the slope of the line and c is the intercept made by the line on x-axis (OR) or if two points (x1,y1) and (x2,y2) are given then we can form a line equation as (y-y1)= (y2-y1)*1/(x2-x1) *x-x1 (OR) (y-y2)= (y2-y1)*1/(x2-x1) *x-x2