Answer:
7.He borrowed $1853.33
8.She received $28990.936
Step-by-step explanation:
7.Let x be the amount borrowed by Tyson
Rate of interest = 7.5%
Time = 2.5 years
Simple Interest = 347.50
Formula :
Where SI = simple interest
P = Principal
T = Time
R = Rate of interest
Substitute the values in the formula :
Hence he borrowed $1853.33
8) Principal = 20000
Rate of interest = 9.5%
No. of compounds per year = 2
Time = 4 years
Formula :
Where A= amount
r = Rate of interest
n = no. of compounds
t = time
Substitute the values in the formula :
So,
A=28990.936
Hence she received $28990.936