A number less than 9 is more than -16
2 answers:
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Answer:
1.41 %
Step-by-step explanation:
Principal amount (P) = $500
Time (T) = 2 weeks = 2 * 7 days = 14 days
Interest = $80
So,
Interest = P*T*
=> 80 = 500 * 14 *
=> 80 = 7000 *
Flip the sides of the equation
7000 * = 80
Multiply both sides by 100
7000 * * 100 = 80 * 100
Cancel out the 100's on the top and bottom from the left side
7000 * R = 8000
Divide both sides by 7000
=
Cancel out the 7000's on the top and bottom from the left side
R = 1.41 %
So, the periodic interest rate of the loan = 1.41 %