Answer: 1/4 of 70,000,000
Step-by-step explanation: 17,500,000 / 70,000,000 = 0.25
So first convert hours to minutes and we know that 1 hour is 60minutes.
So 1/5th of an hour would be one fifth of 60 mins right?
So to fnd what a certain fraction of a certain number is you have to multiply the numerator of the fraction by the number(60) and put it over the denominator (5).
So you get 1 multiplied by 60/5.Which is 60/5.
And we divide 60/5 to get 12.
So the answer is 12 minuets.
Hope this helps:)
Using simple interest, it is found that the interest rate for the 12-month loan is of 6.74%.
<h3>Simple Interest</h3>
Simple interest is used when there is a single compounding per time period.
The amount of money after t years in is modeled by:
A(t) = A(0)(1 + rt)
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem, we have that the parameters are given by:
t = 1, A(0) = 1900, A(t) = 12 x 169 = 2028.
We have to solve for r to find the APR, hence:
A(t) = A(0)(1 + rt)
2028 = 1900(1 + r)
1 + r = 2028/1900
1 + r = 1.0674.
r = 0.0674.
Hence, the interest rate for the 12-month loan is of 6.74%.
More can be learned about simple interest at brainly.com/question/25296782
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