The amount of money borrowed is $ H
Time for borrowing is 25 years
Amount paid per month M
Amount paid per year 12M
Interest rate paid=I
Let the payment method be simple interest method, then:
I=(PRT)/100
plugging in our values we have:
I=(H×R×M)/100
hence:
I=HRM/100
3.19 - 1.99 = 1.20 increase in 4 years
1.20/4 = 0.30
rate of change is 0.30 per year (30 cents per year)
Answer:3/4 miles per hour
Step-by-step explanation:
Simplify the fraction 20/15 to get 3/4 per hour or 0.75 miles per hour
