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Natalija [7]
2 years ago
14

A loan worth $1000 collects simple interest each year for 6 years. At the end of that time, a total of $1270 is paid back. Deter

mine the percentage rate for this loan?
Mathematics
1 answer:
Korolek [52]2 years ago
5 0

Answer:

The percentage rate is 4.5%

Step-by-step explanation:

The simple interest earned in this situation is $1270 - $1000, or $270.

the simple interest formula is i =prt.

Here, i = $270 = ($1000)(r)(6 yr).

                $270

Then r = ------------------- = 0.045

                $1000(6 yr)

The percentage rate is 4.5%

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All integers where n ≥ 1.

We have given that the sequence,

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<h3>What is the meaning of arithmetic sequence?</h3>

Arithmetic sequence is a sequence of numbers such that the difference between the consecutive terms is constant. Difference here means the second minus the first.

That is, a_{n} =a+(n-1)d

where a = first term of sequence.

d =common difference.

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Remember that,the natural number starts with 1

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brainly.com/question/20118982

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Segment A'B' is parallel to segment AB.<br>What is the length of segment AB?
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