The number of points scored by a football team during their 16 game season. (7, 31, 33, 16, 30, 45, 25, 25, 25, 16, 28, 24, 20,
2 answers:
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Given:
Rate of simple interest = 5%
Time = 4 years
Total interest = $160
To find:
The amount borrowed by Austin from a credit union.
Solution:
The formula for simple interest is:
Where, P is principal, r is the rate of interest and t is the number of years.
Putting in the above formula, we get
Multiply both sides by 5.
Therefore, Austin borrowed $800 from a credit union for 4 years.