Given the simple interest formula:
I = P•R•T
where:
I = interest
P = principal
R = interest rate
T = time (in years)
We can isolate R algebraically to find out the interest rate:
I = P•R•T
Divide both sides by P•T:
I / (P•T) = (P•R•T)/(P•T)
The formula for the interest rate is:
R = I / (P•T)
Substitute the given values into this formula to solve for the interest rate (R):
R = I / (P•T)
R = $490/ ($1,400 • 5 years)
R = $490 / $7,000
R = 0.07 or 7%
Therefore, the interest rate is 7%.
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Answer:
steps 2 and 3 must be switched
Step-by-step explanation:
e2020
Answer:
2 1/4
Step-by-step explanation:
1/3 divided by 1/6 is 2
3/4 plus 2 is 2 3/4
2 3/4 minus 6/12 is simplified to 2 9/12 minus 6/12, which is 2 3/12
2 3/12 is simplified to 2 1/4
I will try my best to assist you with your question ,
First we must divide the amount by 2
334/2 = 167
Now we add 16
167 + 16=183
So, the girl spent $183
Wow, she is spoiled!
Hope I helped!
Good Luck!
It's an 11% increase. To find this, you have to subtract 85 from 94.35 and then you divide that difference by the original amount. In this case it's 85. After that, you get .11. Then you just turn it into a percent.
