Answer:
Step-by-step explanation:
We would apply the simple interest formula which is expressed as
I = PRT/100
Where
P = principal or amount borrowed
T = time in years
R = interest rate on amount borrowed.
I = interest paid.
From the given information,
Principal = $3000
T = 3 months = 3/12 = 0.25 years
R = 6 1/2 % = 6.5%
Therefore,
a) the amount that the woman pay for the use of the money is I
I = (3000 × 6.5 × 0.25)/100 = 48.75
b) The amount she repaid to the bank on the due date of the note would be
Principal + interest
= 3000 + 48.75 = $3048.75
Answer:
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Step-by-step explanation:
Step-by-step explanation:
Given that,
A motor boat travels 60 miles down a river in 3 hours but takes 5 hours to return upstream,
We know that,
Speed = distance/time
The rate while moving downstream
The rate while moving upstream 
The rate of the boat in still water is the average of these:

The rate of the current is the difference between the boat speed and actual speed = 16 mph - 12 mph = 4 mph
Hence, this is the required solution.