All categories

3 years ago

John borrowed $20,000 from Beth. He pays $500 per month in interest. What is the percentage interest rate?

Mathematics

1 answer:

user100 [1]3 years ago

7 0

Answer: 2.5%

Step-by-step explanation:

From the question, we are informed that John borrowed $20,000 from Beth and that he pays $500 per month in interest.

The percentage interest rate would be calculated thus:

= Amount paid as interest / Amount borrowed × 100

= 500/20000 × 100

= 2.5%

You might be interested in

If f(1) = 2 and f(n) = –2f(n − 1) then find the value of f(5).

dybincka [34]

Answer: 2f

Explanation:

f(1)=8

f(2)= 2(8) = 16

f(3) = 2(16) = 32

f(4) = 2(32) = 64

f(5) = 2(64) =128

6 0

2 years ago

Given a piece wise<br> function f(x)={2x,x<1 5, x=1

bulgar [2K]

Pretty sure it’s 16TXI, hope this helps!

5 0

3 years ago

Someone help please!

Bumek [7]

Answer:

9/10 I do this a lot

step-by-step explanation:

1/2 changes to 5/10 and 2/5 becomes 4/10 then you add and there is your answer

4 0

3 years ago

Read 2 more answers

Compute the requested value. Choose the correct answer.

Fiesta28 [93]

Original price of the item = $14.95

Price after discount = $13.79

Discount offered = original price - price after discount = 14.95- 13.79 = $1.16

Now let us find the percentage of discount offered.

Percentage discount is given by the formula:

$Percentage discount = \frac{MP-SP}{MP}*100$

Where MP= Marked price= original price

SP= selling price= price after discount

$Percentage discount = \frac{1.16}{14.95}*100$

Percentage discount = 7.759 %

7 0

3 years ago

Read 2 more answers

The Himalayas in Asia are the tallest mountains in the world. PLEASE HELP ME

Tanya [424]

Answer: the answer is d trust me

Step-by-step explanation:

4 0

3 years ago