Question 1)
Given
Interest I = $18
Principle P = $200
t = 1.5 years
To determine
Interest rate r = ?
Using the formula
susbtituting I = 18, t = 1.5 and P = 200
or
r = 6% ∵ 0.06 × 100 = 6%
Therefore, we conclude that the interest rate required to accumulate simple interest of $18.00 from a principal of $200 over 1.5 years is 6% per year.
Question 2)
Given
Interest I = $60
Principle P = $750
Interest rate = 4% = 0.04
To determine
Time period t = ?
Using the formula to calculate the time period
years
Therefore, the time required to accumulate simple interest of $ 60.00
from a principal of $ 750 at an interest rate of 4% per year is 2 years.
Answer:
amigo mío la respuesta es la letra B
Your question doesn't say what are the options, but we can make some reasoning.
The average daily balance method is based, obviously, on the <span>average daily balance, which is the average balance for every day of the billing cycle. Therefore, in order to calculate the average daily balance, you need to sum the balance of every day and then divide it by the days of the billing cycle.
In your case:
ADB = (9</span>×2030 + 21×1450) / 30 = 1624 $
Now, in order to calculate the interest, you should first calculate the daily rate, since APR is usually defined yearly, and therefore:
rate = 0.23 ÷ 365 = 0.00063
Finally, the expression to calculate the interest could be:
interest = ADB × rate × days in the billing cycle
or else:
<span>interest = ADB × APR ÷ 365 × days in the billing cycle
In your case:
interest = 1624 </span>× 0.23 ÷ 365 × 30
= 30.70 $
Answer:
6 seconds
Step-by-step explanation:
Using the information from the problem, if Emily continues to pick 3 strawberries per second while Sophia eats 5 strawberries per second, then the amount of strawberries will decrease at a rate of 2 strawberries per second. Therefore, we can find the answer by subtracting 2 from 20 until we get to 8. Since we subtract 2 six times, the answer is 6. Hope this makes sense!
