Write a quadratic equation to represent the situation. Solve the equation by factoring. Use the table and graphing method to che
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<h3>Answer: 78.6</h3>
Work Shown:
Multiply across the rows to form a third column. Example: 9*90 = 810 in the first row.
The values in the third column add to 810+1440+1050 = 3300
Divide this over the total number of people which is 9+18+15 = 42
The mean is 3300/42 =78.571 approximately which rounds to 78.6
The annual interest rate is 3.5%.
Solution:
Given Interest (I) = $26.25
Principal (P) = $500
Time (t) = 18 months
Rate of interest (r) = ?
Time must be in years to find the rate per annum.
1 year = 12 months
Divide the time by 12.
Time (t) = years
Now, find the rate of interest using simple interest formula.
<u>Simple interest formula:</u>
⇒ r = 3.5%
Hence the annual interest rate is 3.5%.