All categories

2 years ago

Matt paid $450 in interest on a 15 month note for $5600. Find the rate of interest paid.

Mathematics

1 answer:

Olin [163]2 years ago

7 0

Answer:

The rate is 6.43%

Step-by-step explanation:

Given

$I = 450$ --Interest

$P = 5600$ -- Principal

$T= 15\ months$ --Time

Required

Determine the rate

Using simple interest formula:

$I = PRT$

Make R the subject

$R = \frac{I}{PT}$

Convert time to years

$T= 15\ months$

$T =\frac{15}{12}\ years$

$T =1.25\ years$

Substitute values for I, P and T

$R = \frac{450}{5600*1.25}$

$R = \frac{450}{7000}$

$R = 0.0643$

Convert to percentage

$R = 0.0643*100\%$

$R = 6.43\%$

You might be interested in

Victor is measuring his bodily dimensions. his neck is 14.72 inches in circumference, and his forearm is 25.81 centimeters long.

Triss [41]

The length of his neck is longer than the length of his forearms by 44.86 %.

<h3>Calculations and Parameters:</h3>

Given:

Length of his neck = 14.72 inches

Length of his forearm = 25.81 cm

We know that:

1 inch = 2.54 cm

So, 14.72 inches = 14.72×2.54

=37.39 cm

So, the Length of his neck becomes 37.39 cm

So, the length of his neck is longer than the length of his forearms.

The difference between them is given by

37.39-25.81

=11.58 cm

so, the Percentage of change would be

11.58/25.81 * 100

=44.86%

Read more about percentages here:

brainly.com/question/7255460

#SPJ4

6 0

2 years ago

Read 2 more answers

The following set of coordinates most specifically represents which figure? (−5, 6), (−1, 8), (3, 6), (−1, 4) (6 points) Paralle

Vladimir [108]

Answer:

Rhombus

Step-by-step explanation:

The given points are A(−5, 6), B(−1, 8), C(3, 6), D(−1, 4).

We use the distance formula to find the length of AB.

$|AB|=\sqrt{(-1--5)^2+(8-6)^2}$

$|AB|=\sqrt{16+4}$

$|AB|=\sqrt{20}$

The length of AD is

$|AD|=\sqrt{(-1--5)^2+(6-4)^2}$

$|AD|=\sqrt{16+4}$

$|AD|=\sqrt{20}$

The length of BC is:

$|BC|=\sqrt{(-1-3)^2+(8-6)^2}$

$|BC|=\sqrt{16+4}$

$|BC|=\sqrt{20}$

The length of CD is

$|CD|=\sqrt{(-1-3)^2+(6-4)^2}$

$|CD|=\sqrt{16+4}$

$|CD|=\sqrt{20}$

Since all sides are congruent the quadrilateral could be a rhombus or a square.

Slope of AB $=\frac{8-6}{-1--5}=\frac{1}{2}$

Slope of BC $=\frac{8-6}{-1-3}=-\frac{1}{2}$

Since the slopes of the adjacent sides are not negative reciprocals of each other, the quadrilateral cannot be a square. It is a rhombus

7 0

2 years ago

Read 2 more answers

A 0.145 kg baseball pitched at 43.0 m/s is hit on a horizontal line drive straight back toward the pitcher at 52.0 m/s. if the c

Karo-lina-s [1.5K]

- If the contact time between bat and ball is 3.00 10-3 s, calculate the average force between the ball and bat during contact. ... now that we have dp we divide it by 3 x 10^-3 s. ... therefore the average force ( or impulse) between the ball and the bat during contact is 12000 N.

7 0

3 years ago

Suppose the price of admission to the state fair is $9.50, and each ride costs an additional $2.25.

alexandr402 [8]

Answer:

Step-by-step explanation:

You need to multiply the variable by how much each ride costs.

3 0

2 years ago

Help me please I need this answer ASAP

Ket [755]

Answer:

Step-by-step explanation:

5 0

2 years ago