Answer:
Step-by-step explanation:
Given a System of linear equations, the solution of the system is the point in which the lines intersect, where "x" is the x-coordinate and "y" is the y-coordinate.
Having the following System of equations:
You can use the Elimination method to find the value of "x":
-Multiply the second equation by 3.
- Add the equations.
- Solve for "x".
Then, you get:
Step 1
Given;
Required; To find the difference in interest between the two periods.
Step 2
State the formula for simple interest
Step 3
Find the interest when the rate is 8%
Therefore the interest is given as;
Step 4
Find the interest in 1980 with a 20% rate
The interest is given as;
Step 5
Find the difference in interest between the two rates.
Hence, the difference in interest between the two rates = $11095.89