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crimeas [40]
3 years ago
14

James borrows $4,200 to pay his college tuition. He signs a 5-year simple interest loan. If the monthly payments are $78.40, wha

t is the interest rate on the loan?
Mathematics
1 answer:
KonstantinChe [14]3 years ago
3 0

Answer:

2.4%

Step-by-step explanation:

Total amount of payments:

5 years * 12 months/year * $78.40/month =

= $4704.00

Amount of interest paid in 5 years:

$4704 - $4200 = $504

Amount of interest paid in 1 year:

$504/5 = $100.80

Annual percent rate of interest:

$100.80/$4200 * 100% = 2.4%

Answer: 2.4%

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timofeeve [1]

Answer:

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Step-by-step explanation:

The acceleration is the rate at which the speed changes over time, therefore to solve this question we must divide the change of speed by the elapsed time in order to find the accelaration of the drone in that period. We have:

a = (Vf - Vi)/dt

Where a is the acceleration, Vf is the final velocity, Vi is the initial velocity and dt is the elapsed time. We have:

a = (51 - 38)/5 = 2.6 m/s²

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Step-by-step explanation:

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