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steposvetlana [31]
3 years ago
10

I have a math midterm in 2 days and I really don't get ANYTHING. April took out a $600 loan from the bank. At the end of 5 years

, she pays back the principal, plus $60 simple interest. What was the annual interest rate? (It mean a lot if you could help haha)
Mathematics
1 answer:
VladimirAG [237]3 years ago
7 0

Answer:

2% interest rate.

Step-by-step explanation:

<u>Given:</u>

  • April took out a $600 loan.
  • After 5 years, she pays it back.
  • She has payed $60 in simple interest.

Let's find the interest rate using the given values:

60 = &#10;\frac{600((r)5)}{100}

(r represents the possible percentage amount of the variable x)

(100 is being divided by the numerator to simplify the answer)

<u>Solve:</u>

600(5) = 3000

3000(r)/100

<u>Divide by 100:</u>

60 = 30r

<u>Divide both sides of the equation by 30:</u>

2=x

*r is represented by x.

Therefore, the interest rate is 2%.

Best of luck on your midterms!

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you can buy 4 star fruit for 8 dollars.

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x=½

Step-by-step explanation:

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Answer:

<h3><u><em>A and C</em></u></h3>

Step-by-step explanation:

Let's look at the chances:

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<u>Step-by-step explanation:</u>

6 + (2 - 3 (4) )+1 / (5) (2) - 4

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