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2 years ago

The simple interest on $2,000 for 2 years is $320. What is the interest rate?

Mathematics

1 answer:

loris [4]2 years ago

3 0

Answer:

$320/2 = $110 for one year of interset form $2000

$110 / $2000 = 0.055

$2000* 0.055 = $110

$110 * 2 = $320 intrest for two years

Step-by-step explanation:

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The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate

ella [17]

Interest paid after 30 years is $494,546.99.

Solution:

Principal (P) = $195,000

Interest rate (r) = 4.3%

Time (t) = 30 years

n = number of times interest calculated per year

n = 1

Compound interest formula:

$$A=P\left(1+\frac{r}{n}\right)^{n t}$

where A is the final amount

$$A=195000\left(1+\frac{4.3\%}{1}\right)^{1\times 30}$

$$A=195000\left(1+\frac{4.3}{100}\right)^{30}$

$$A=195000\left(\frac{100+4.3}{100}\right)^{30}$

$$A=195000\left(\frac{104.3}{100}\right)^{30}$

A = 689546.99

Interest = Amount - Principal

= 689546.99 - 195000

= 494546.99

Interest paid after 30 years is $494,546.99.

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2 years ago

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A 2-gallon bucket of paint costs $58.00. What is the price per quart? $

tia_tia [17]

Answer:

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Step-by-step explanation:

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3 years ago

The sum of three consecutive odd integers is 18 less than five times the middle number fimd the three integers

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Answer:

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Step-by-step explanation:

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