All categories

2 years ago

If the simple interest on $3,000 for 8 years is $1,680, then what is the interest rate?

1 answer:

8 0

We need to use the formula for simple interest which is
I= prt
Where I is the amount of money you earned or pay in interest
p is the principal, the amount you deposited or borrowed
r is the interest rate expressed as a decimal
t is time in terms of years

In this problem, I= 1,680
p= 3000
t= 8
'. r is what we are looking for.

Substituting the numbers into the simple interest formula, we get
I=. p r t
1,680=(3000)(r)(8). Multiplying
1,680= 24,000r Divide both sides by 24,000
0.07= r
So, the percentage is (0.07)(100)= 7%...

You might be interested in

A 12-foot by 15-foot patio is increased by placing a stone border around the patio. The width of the border is the same all arou

Arisa [49]

Complete question :

A 12-foot by 15-foot patio is increased by placing a stone border around the patio. The width of the border is the same all around the patio.The perimeter of the patio after it is expanded is 74 feet. The equation which represents x, the width of the border is 2[(12+2x)+15+2x)]=74. What is the width of the border?

1) 2 1/2 feet

2) 3 feet

4) 5 feet

5) 8 1/2 feet

Answer:

2.5

Step-by-step explanation:

Solving for X in the perimeter equation :

2[(12+2x)+15+2x)]=74

Open the bracket

2[(12 + 2x + 15 + 2x)] = 74

2(27 + 4x) = 74

54 + 8x = 74

8x = 74 - 54

8x = 20

x = 20/8

x = 2.5

Hence, width fo border = 2.5

5 0

2 years ago

Logs are stacked 7 rows high. The top row has 15 logs, the second row has 18 logs, and the third row has 21 logs. This pattern c

EastWind [94]

The answer is 168 logs.

1st row: 15 logs
2nd row: 18 logs
3rd row: 21 logs
(so, each row has 3 more logs)
4th row: 24 logs
5th row: 27 logs
6th row: 30 logs
7th row: 33 logs

The sum of logs from each row is: 15 + 18 + 21 + 24 + 27 + 30 + 33 = 168 logs

4 0

3 years ago

Read 2 more answers

Use the distrubutive property to simply 2(-5-7j)

prisoha [69]

Answer:

2(-5 - 7j) = -10 - 14j

Step-by-step explanation:

Using the distributive property means that we have to multiply both -5 and -7j by 2:

2(-5 - 7j)

⇒ 2 × -5 + 2 × -7j

⇒ -10 - 14j

8 0

2 years ago

What is the area of triangle ABC Round to the nearest tenth of a square unit

Inga [223]

Where’s the triangle, isn’t there supposed to be a picture with the question

5 0

3 years ago

Dan has bags of candy with two pieces in each. Bill has bags of candy with five pieces in each. Bill has six more bags than Dan.

Anna35 [415]

Answer:

Bill has bags of candy with five pieces in each. The Bill has 16 bags

Solution:

Given, Dan has bags of candy with two pieces in each.

Bill has bags of candy with five pieces in each.

Bill has six more bags than Dan.

Then, number of bags with bill = 6 + number of bags with dan.

The total number of pieces candy the two boys have 100.

Now, candies with bill + candies with dan = 100

⇒ 5 pieces per bag x number of bags with bill + 2 pieces per bag x number of bags with dan = 100

⇒ 5 x (6 + number of bags with dan) + 2 x number of bags with dan = 100

⇒ 30 + 5 x number of bags with dan + 2 x number of bags with dan = 100

⇒ (5 + 2) x number of bags with dan = 100 – 30

⇒ 7 x number of bags with dan = 70

⇒ Number of bags with dan = 10

So, number of bags with bill = 6 + 10 = 16

Hence, bill has 16 bags.

7 0

3 years ago

If the simple interest on ​$3,000 for 8 years is ​$1,680​, then what is the interest​ rate?

If the simple interest on $3,000 for 8 years is $1,680, then what is the interest rate?