Given:
Rate of simple interest = 5%
Time = 4 years
Total interest = $160
To find:
The amount borrowed by Austin from a credit union.
Solution:
The formula for simple interest is:
Where, P is principal, r is the rate of interest and t is the number of years.
Putting in the above formula, we get
Multiply both sides by 5.
Therefore, Austin borrowed $800 from a credit union for 4 years.
Try comparing your solution with the following:
Solution:
Answer:
Check:
<em>Hope this was helpful.</em>
Both cyclist are moving apart at a speed of 9.434 mi/hr.
<h3>What is velocity?</h3>Velocity is the direction at which an item is moving and serves as a measure of the rate at which its location is changing as seen from a certain point of view and as measured by a specific unit of time (for example, 60 km/h northbound). In kinematics, the area of classical mechanics that deals with the motion of bodies, velocity is a basic idea. A physical vector quantity called velocity must have both a magnitude and a direction in order to be defined. Speed is the scalar absolute value (magnitude) of velocity; it is a coherent derived unit whose quantity is measured in metres per second (m/s or m/s1) in the SI (metric system).
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