Paige has a membership to a new music website. It costs $5 a month and then each song costs $0.10 to purchase. Write an equation
1 answer:
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Answer:
Step-by-step explanation:
We have been given that your friend borrows $100 from you and promises to pay you back $109 in 8 months.
We will use simple interest formula to solve our given problem.
, where,
A = Amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
Convert 8 months to year:
Convert to percent:
Therefore, you are charging 12% APR to you friend.
The right answer to the graph of the line with a negative slope is:
<h2>This is read as:
Then:
When is 5, the value of
is