The simple interest rate that was paid on the loan by Dante was 6.1%
Simple interest = PRT/100
where,
P = Principal = 20000
R = Rate = Unknown
T = 146 days = 146/365 = 0.4 years
Interest = 488
Therefore, in order to solve the question, we'll slot the values of the terms above into the formula and this will be:
Simple interest = PRT/100
488 = (20000 × R × 0.4)/100
Cross multiply.
488 × 100 = 8000R
48800 = 8000R
R = 48800/8000
R = 6.1%
The annual Interest rate was 6.1%
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Answer: 12
Step-by-step explanation:
13-7 =6
6 x 2= 12
<em>≈ 1.160</em>
- Step-by-step explanation:
<em>Hi there !</em>
<em>115.9% =1159/1000 = 1.159 ≈ 1.160</em>
<em>Good luck !</em>
<h3>
Answer: $28,466</h3>
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Explanation:
Each installment or payment is $567 per month.
If 48 months go by, then Jayson has paid 48*567 = 27,216 dollars.
If he still owes $1250, then this means he will pay back a total of 27,216+1,250 = 28,466 dollars.
Answer:
Subtract 8x from both sides of the inequality.
Step-by-step explanation: