6% or 0.06 is the simple interest rate the bank pays him.
<u>Step-by-step explanation:</u>
Sir Ving Spoon earned $5,436 on his $7,550 certificate of deposit.
From this given information,
It can be determined that the Principal amount is $7550 and the interest amount is $5436.
The CD is for 12 years. Therefore, the number of years is 12.
<u>To find the interest rate (r) :</u>
Using the simple interest formula,
Interest = P×r×t
where,
- P is the principal amount = $7550
- r is the rate of interest.
- t is the number of years = 12
⇒ 5436 = 7550 × r × 12
⇒ 5436 = 90600 × r
⇒ r = 5436 / 90600
⇒ r = 0.06
Multiply by 100 to represent in rate %
⇒ r = 0.06 × 100
⇒ r = 6%
∴ 6% or 0.06 is the simple interest rate the bank pays him.
10.5625 is your answer hope i helped
Answer:
7.50 per person
Step-by-step explanation:
60 divided by 8
7.5
Answer:
125 p^3 g^3
Step-by-step explanation:
(5pg)^3
We know that (ab)^c = a^c * b^c
5^3 p^3 g^3
125 p^3 g^3
Answer:
$36
Step-by-step explanation:
20x.80=16
20+16=36
Hence, the original price is $36
