Write 9,639 as a decimal number. 10,000
1 answer:
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Using simple interest, it is found that Devin will pay $60,125 altogether.
The amount paid in <u>simple interest</u> is:
In which:
- P is the principal.
- r is the interest rate, as a decimal.
- t is the time, in years.
In this problem:
- Owes $26,000 in student loans, thus
- Interest rate of 8.75%, thus
- Paid off in 15 years, thus
.
The amount he will pay is of:
Devin will pay $60,125 altogether.
A similar problem is given at brainly.com/question/13176347
Answer:
Ed and Sheerie save 7.5%.
Step-by-step explanation:
This question can be solved using a rule of three.
Ed and Sherrie save $90 each pay period from their combined paychecks, which total $1200. What percent do Ed and Sherrie save?
How much of $1200 is $90? $1200 is 100% = 1, $90 = x. So
$1200 - 1
$90 - x
Ed and Sheerie save 7.5%.