Answer:
April took out a loan of $600 and paid it back with simple interest of $60 after 5 years. The formula to calculate interest is given the principal and the time and the interest rate is . For this problem we have to find the interest rate given . To archive that , we can just solve the equation making the interest rate the subject of the formula as shown below,
I= Prt
=> r= I/Pt
=> r= 60/600x5 = 1/50
The interest rate is 1/50 or 0.02 as a decimal. The interest rate is 2% as a percentage.
Answer:
D is not a function.
Step-by-step explanation:
The first option is a function because it makes up a straight line. The second option is also a function because it is also known as y = -3/2x + 2 creating a slope function. The third option is also a function because there is no more than one point for each x value. The last option is not a function because the number 2 is going for 2 variables A and B and you can't have them with more than one so D is your answer.
A=3,500×(1+0.011÷12)^(12×4)
A=3,657.36
Interest earned
=3657.36-3500=157.36
