I=$26.24, P=$500, T=18 months the annual interest rate is

1 answer:

7 0

A = $2,861.60

I = A - P = $2,361.60

Equation:
A = P(1 + rt)

Calculation:
First, converting R percent to r a decimal
r = R/100 = 26.24%/100 = 0.2624 per year.

Solving our equation:
A = 500(1 + (0.2624 × 18)) = 2861.6
A = $2,861.60

The total amount accrued, principal plus interest, from simple interest on a principal of $500.00 at a rate of 26.24% per year for 18 years is $2,861.60.

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3 years ago

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ValentinkaMS [17]

Answer:

Step-by-step explanation:

10/18 does not equal 45/18

An example of a proportional number is:

4/5 and 8/10

Both numbers are multiplied by 2 making them proportional

10/18 and 45/18 are not proportional

Hope this helped :)