X+y=5 x-1=y Please help

1 answer:

4 0

This is a simultaneous equation

Rearrange the second to give

x - y = 1

Add the two equations

(x + y) + (x - y) = 5 + 1

2x = 6
x=3

Substitute 3 into either equation

3 - 1 = y

y = 2

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Step-by-step explanation:

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7. A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. What is the effective

Elina [12.6K]

Answer:

The effective interest rate, rounded to the nearest tenth, is 0.1%.

Step-by-step explanation:

The banker's rule is the simple interest formula.

The simple interest formula is given by:

$E = P*I*t$

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly) and t is the time, in years.

The effective interest rate is given by the following formula:

$E_{IR} = \frac{E}{P}$ .

In this problem, we have that:

A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. We consider that the year has 360 days. This means that $P = 6200, I = 0.0884, t = \frac{40}{360} = \frac{1}{9}$ .