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icang [17]
2 years ago
13

Suppose that you borrow $3000.00 from a friend and promise to pay back $4935.00 in 3 years. What simple interest rate will you p

ay? The simple interest rate is % (Round to the nearest tenth as needed.)​
Mathematics
1 answer:
Amiraneli [1.4K]2 years ago
7 0

Answer:

the simple interest rate is 18.00%

Step-by-step explanation:

The computation of the simple interest rate is shown below:

Amount = Principal × (1 + rate)^years

$4,935 = $3,000 × (1 + rate)^3

After solving it, the rate of percentage is 18.00%

Hence, the simple interest rate is 18.00%

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Dr yang buys a violin for £13200 plus vat at 20% dr yang pays a deposit for the violin he then pays the rest of the cost in 12 e
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Answer:

8/3

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