Given the simple interest formula:
I = P•R•T
where:
I = interest
P = principal
R = interest rate
T = time (in years)
We can isolate R algebraically to find out the interest rate:
I = P•R•T
Divide both sides by P•T:
I / (P•T) = (P•R•T)/(P•T)
The formula for the interest rate is:
R = I / (P•T)
Substitute the given values into this formula to solve for the interest rate (R):
R = I / (P•T)
R = $490/ ($1,400 • 5 years)
R = $490 / $7,000
R = 0.07 or 7%
Therefore, the interest rate is 7%.
Please mark my answers as the Brainliest if you find my explanations and solution helpful :)
Answer:
y=1.25x+470
y=2.00x+350
Step-by-step explanation:
The linear equation form is y=mx+b so for m you but the amount that depends on x and b is the constant.
Statement: Complementary angles are two angles with measures that have a sum of 90.
Reverse: Two angles with measures that have a sum of 90 are complementary angles.
Here the reverse is true, therefore, the statement is true biconditional.
Statement: A rectangle is a four-sided figure with at least one right angle.
Reverse: A four sided figure with at least one right angle is a rectangle.
Here, the reverse is not true, therefore, the statement is not reversible.
Answer:
Step-by-step explanation:
I'm goig to assume that the formula we need here is the following:
where A(t) is the amount in the account after the compounding is done, n is the number of times per year the compounding occurs, r is the rate in decimal form, and t is the time in years. Filling in accordingly,
and simplifying a bit,
and simplifying a bit more,
A(t) = 90000(1.343916379) so
the amount in the account after 5 years is
A(t) = 120,952.47
