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.
Answer:
Step-by-step explanation:
P = 4 + 6 + (3y - 2) Remove the brackets
P = 10 + 3y - 2 Combine
P = 8 + 3y
Note 3y must be less than 8. That's because 2 sides of any triangle must be larger than the 3rd side or else you don't have a triangle.
Equations of straight lines are in the form y = mx + c (m and c are numbers). m is the gradient of the line and c is the y-intercept (where the graph crosses the y-axis).
