Alice borrowed 16700 from the bank at a simple interest rate of 9% to purchase a used car. It means that the interest is not compounded. Simple interest is usually expressed per annum. The formula for simple is

I = PRT/100

Where

I = interest

P = principal(amount borrowed from the bank)

R = 9% ( rate at which the interest is charged

T = number of years

At the end of the loan,she had paid a total of 24215. This means that the interest + the principal = 24215

Therefore,

The interest = 24215 - 16700 = 7515

Therefore

7517 = (16700 × 9 × t)/100

751700 = 150300t

T = 751700/150300

T = 5 years

Converting 5 years to months,

1 year 12 months

5 months = 12 × 5 = 60 months

4 0

3 years ago

John has a job parking cars. He earns a fixed weekly salary of $300 plus a fee of $5 for each car he parks. At what point does J

horrorfan [7]

Let us assume the number of cars parked after which John will start earning more than his fixed weekly salary = x
The fixed weekly salary of John = $300
The fee that John gets for parking each car = $5
Then we can get the equation as
5x = 300
x = 300/5
= 60
So from the above deduction we can see that John will earn the equal amount of his weekly pay after he parks 60 cars. Then it becomes obvious that parking car number 61, John will start earning more than what he gets as his fixed weekly salary. I hope you have understood the described method.

4 0

2 years ago

Please help with number 3 i dont understand it

prisoha [69]

I believe the answer is A.

Absolute value best proves my answer.

Absolute value is how far a number is from zero.

6 0

3 years ago

Read 2 more answers

A salt water solution is cooled to -3C. During an experiment , the mixture is heated so that its, temperature rises at steady ra

JulijaS [17]

Answer:

$y = -3+ rx$