1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataliya [291]
3 years ago
9

A company borrowed $25,000 at 3.5% and was charged $2,625 in interest. How long was it before the company repaid the money?

Mathematics
2 answers:
nirvana33 [79]3 years ago
5 0
Hello

3 years. Since no mention of compounding was made I will assume that it's 3.5% simple interest. So first, let's calculate what percent of the entire loan was interest. Just a simply matter of division. 2625 / 25000 = 0.105 = 10.5% Now lets' divide the percentage of the loan that was paid in interest by the interest rate. 10.5% / 3.5% = 3 So the company took 3 years to repay the loan.
Have a nice day
ankoles [38]3 years ago
4 0

Answer: The company repaid the money in 3 years.

Step-by-step explanation:

Hi, to solve this problem we have to apply the simple interest formula:

I = P x r x t

where:

I = interest = $2625

P = Principal amount= $25,000

r = interes rate (decimal) = 3.5% = 3.5 / 100 = 0.035

t = time

So, mathematically speaking:

I = P x r x t

2625 = 25,000 x 0.035 x t

2625= 875 x t

2625 / 875 =t

3 years = t

In conclusion, the company repaid the money in 3 years.

Feel free to ask for more if it´s necessary or if you did not understand something.

You might be interested in
What is MLS?<br>finance​
Pavel [41]

Answer: MLS. Short for multiple listing service. A service whereby real estate brokers agree to make information about their listed properties available to each other and to split a commission with any other broker who provides the buyer.

Step-by-step explanation:

7 0
3 years ago
Which graph is correct for the given equation: Y=-1/4x-4?
navik [9.2K]

Answer:

c

Step-by-step explanation:

i believe it's hard to see the graph

3 0
2 years ago
For what value of h is 24=h/10-6​
faltersainse [42]

Answer:

h=3

Step-by-step explanation:

h/10 -6 =24

+6 to each side

h/10=30

divide each side by 10

h=3

5 0
3 years ago
Solve for x. PLZ WAIT FOR THE PHTO TO UPLOAD
stepan [7]
6x² - 5x + -21 = 0

Because this whole equation equals zero, we must simply factorize the first half of the equation, or the left side.

(3x - 7)(2x + 3) = 0

I was never really taught a specific way to factorize, so I usually just guess and check when factorizing. It usually takes a long time, it always gives you the tight answer.

Then, take each equation and make it equal zero.

3x - 7 = 0 AND 2x + 3 = 0

3x - 7 = 0

Add 7 to both sides.

3x = 7

Divide both sides by 3.

x = 7/3

Now, we do our second equation.

2x + 3 = 0

Subtract 3 from both sides.

2x = -3

Divide both sides by 2.

x = -3/2

So, x = 7/3 AND x = -3/2

So, your answer is C) x = 7/3, x = -3/2

~Hope I helped!~
7 0
3 years ago
What is the final step in solving the inequality –2(5 – 4x) &lt; 6x – 4?Step 1: –10 + 8x &lt; 6x – 4
DanielleElmas [232]
<span>The process of solving the inequality will be: -2(5 - 4x) < 6x - 4 8x - 10 < 6x - 4 -6 < -2x x > 3 This is in accordance to the rule of solving inequalities which states that whenever we multiply or divide by a negative number while solving an inequality, we must reverse the inequality sign. The last option is correct.</span>
7 0
3 years ago
Read 2 more answers
Other questions:
  • arcus had 8/9 of a pack of construction paper. he used 1/5 of the paper to make paper airplanes. what fraction of the original p
    13·1 answer
  • Find the coordinates of the midpoint ab a(6,4) and b(2,-6)
    9·1 answer
  • 3^4 + 2 ⋅ 5 = ____. (Input only whole numbers.)
    11·1 answer
  • Which of the following is a geometric sequence with a common ratio of 2?
    6·1 answer
  • Brook states that the distance on the line is 4 units. Caleb states that the whole line does not have a distance because it cont
    12·2 answers
  • What is the degree of a polynomial that has roots of -2, 4i and -4i ?
    12·1 answer
  • Solve for x, given the equation Square root of x plus 9 − 4 = 1.
    14·2 answers
  • In a game of chance,players spin a pointer on a spinner with eight equal-sized sections.
    6·1 answer
  • 1/5 x (6 x 4) answer now....
    12·1 answer
  • Determine the length of side CB.<br> A)<br> 5<br> B)<br> 5V<br> 5V<br> D)<br> 10
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!