The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.
<h3>What is the interest rate behind a pay back?</h3>
In this situation we assume that the loan does not accumulate interests continuously in time. Hence, the <em>interest</em> rate for paying the loan back 75 days later is:
575 = 525 · (1 + r/100)
50 = 525 · r /100
5000 = 525 · r
r = 9.524
The loan has an <em>interest</em> rate of 9.524 % for 75 days. <em>Simple annual interest</em> rate is determine by rule of three:
r' = 9.524 × 365/75
r' = 46.350
The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.
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Line DQ is equal to 7. Since point Q is the centeriod, this means that line DQ will equal the same as line QD. Thus, line QD is 7 making like DQ 7 as well. Hope that helped :))
Answer:
y =7
x =14
Step-by-step explanation:
Since this is a right triangle we can use trig functions
tan 30 = opp /adj
tan 30 = y/ 7 sqrt(3)
7 sqrt(3) tan 30 = y
7 sqrt(3) * 1/ sqrt(3) =t
7 =y
sin 30 = opp/ hyp
sin 30 = 7/x
x sin 30 =7
x = 7/ sin 30
x = 7 / 1/2
x = 14
Answer:
27 years
Step-by-step explanation:
The formula for the number of payments can be used:
N = -log(1 +0.05(1 -1000000/65000))/log(1.05) +1 = 27.03
There will be a couple thousand dollars left after the 27th payment.
The winnings will last 27 years.