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Tresset [83]
2 years ago
11

URGENT PLEASE: You purchase a new guitar and take out a loan for $450. You have 18 equal monthly payments of $28 each. What is t

he simple interest rate for the loan? Round to the nearest tenth of a percent, if necessary.
Mathematics
1 answer:
kramer2 years ago
8 0
Answer:
8%

Step-by-step explanation:
The amount repaid is ...
A = P(1 +rt)
Filling in the given values, we can find r.
(18·28) = 450(1 +r(18/12)) . . . . . t is in years
504 = 450 + 675t

54/675 = 0.08 = 8%

The simple interest rate on the loan is 8%.
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3 years ago
Sean is driving to visit his friend in another state. In the first hour, he travels 1/5 of the total distance. Second hour he tr
astra-53 [7]

Answer:

The friends live 285 miles apart.

Step-by-step explanation:

Let total distance in miles Sean needs to cover to visit his friend be = x

On first hour distance traveled in miles is = \frac{1}{5}\ of\ the\ total\ distance = \frac{1}{5}.(x)=\frac{1}{5}x

Distance left to cover  after first hour = x-\frac{1}{5}x

On second hour distance traveled = 34 miles

Distance to still left to be covered = 194 miles

Total distance to be covered after first hour will be = 34\ miles+194\ miles = 228 miles

Thus, the equation can be given as:

⇒ x-\frac{1}{5}x=228

Multiplying each term with 5 to remove fractions.

⇒ 5x-5.\frac{1}{5}x=5\times228

⇒ 5x-x=5\times228

⇒ 4x=1140

Dividing both sides by 4.

⇒ \frac{4x}{4}=\frac{1140}{4}

∴ x=285

Thus, the friends live 285 miles apart.

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