Please help it's due today haha:/
2 answers:
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The annual interest rate is 3.5%.
Solution:
Given Interest (I) = $26.25
Principal (P) = $500
Time (t) = 18 months
Rate of interest (r) = ?
Time must be in years to find the rate per annum.
1 year = 12 months
Divide the time by 12.
Time (t) = years
Now, find the rate of interest using simple interest formula.
<u>Simple interest formula:</u>
⇒ r = 3.5%
Hence the annual interest rate is 3.5%.
Answer:
Unit Rate of Change = 1.27%
Step-by-step explanation:
In 2000, t=1 and Total Music sales = 24.8%
In 2007, t=7 and Total Music sales = 32.4%
The Slope
The Unit Rate of Change is 1.27% and it means that the Total Music Sales Increased by approximately 1.27% every year.