there are only two outcomes: heads or tails so the outcome ca only be one of two outcomes that is the reason for the 2 on the bottom of the fraction. and heads is one of the outcome hence the 1 on the top of the fraction.

7 0

3 years ago

Jamal borrowed $15 600 for 6 years from a bank. The annual simple interest rate for the first 3 years is 1.6%. From then onward,

r-ruslan [8.4K]

Answer:

the interest owed is 1684.8

Step-by-step explanation:

Formula for simple interest =

I = Prt, where P is amount borrowed, r for interest rate and t for time.

Since the first three years is 1.6% interest we can write:

I = 15600 x 0.016 x 3

= 748.8

Then for the following 3 years the interest rate is 2%:

I = 15600 x 0.02 x 3

= 936

Adding the values gives us 1684.8

4 0

2 years ago