Answer:
So there is a 2 in 13 chance to pull out either an ace or king from the deck
Step-by-step explanation:
Answer: $10000
Step-by-step explanation:
From the question,
Principal = $43000
Time = 5 years
Rate = Unknown
Simple Interest = $51,600 - $43000 = $8600
We need to calculate the rate of interest which will be:
Interest = PRT/100
8600 = (43000 × 5 × Rate) / 100
Cross multiply
8600 × 100 = 215000 × Rate
Rate = 860000 / 215000
Rate = 4%
Assuming Justine borrowed $50,000 instead, the yearly Interest will be:
= (50000 × 5 × 4%)
= 50000 × 5 × 0.04
= $10000
For this case we must solve the following proportion:
Multiplying by 5 on both sides of the equation we have:
Subtracting 2 from both sides of the equation:
ANswer:
