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Aleks [24]
3 years ago
15

If the simple interest on ​$7,000 for 7 years is ​$2,940​, then what is the interest​ rate?

Mathematics
2 answers:
Maslowich3 years ago
5 0
Answer

I (Interest) = $1,440.60

Explanation:

First, converting R (rate) percent to r a decimal r = R/100 = 2.94%/100 = 0.0294 per year, then, solving our equation.

I = 7000 x 0.0294 x 7 = 1440.6
I = $1,440.60

The simple interest accumulated on a principal of $7,000.00 at a rate of 2.94% per year for 7 years is $1,440.60.
ddd [48]3 years ago
4 0

~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$2940\\ P=\textit{original amount deposited}\dotfill & \$7000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &7 \end{cases} \\\\\\ 2940=7000(\frac{r}{100})(7)\implies \cfrac{2940}{7000(7)}=\cfrac{r}{100}\implies \cfrac{3}{50}=\cfrac{r}{100} \\\\\\ 300=50r\implies \cfrac{300}{50}=r\implies \stackrel{\%}{6}=r

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Gnoma [55]
Hi there!! 

First, we are going to find the improper fraction of each mixed number. 

10 1/3 >>>>> 10*3+1=31 31/3

2 2/3 >>>>> 2*3+2=8.      8/3 

5 1/3 >>>>>> 5*3+1 = 16.  16/3 

TO find the reciprocal, we switch the numerator with the denominator. 

31/3 changes to 3/31, 8/3 changes to 3/8, and finally 16/3 changes to 3/16. 


Your answer is: 

3/31
3/8
3/16

Hope this helps! Let me know if you have any questions:)
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Find the output, y, when the input, x , is 7.<br> y=
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4 0
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New york sales tax is charged at the rate of 6%. find the tax and the total price you would pay for an $860 stereo.
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8 0
3 years ago
How is 340 divided by 17 reasonable
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8 0
3 years ago
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The perimeters of square region S and rectangular region R are equal. If the sides of R are in the ratio 2 : 3, what is the rati
Ksivusya [100]
<h2>Answer:</h2>

The ratio of the area of region R to the area of region S is:

                    \dfrac{24}{25}

<h2>Step-by-step explanation:</h2>

The sides of R are in the ratio : 2:3

Let the length of R be: 2x

and the width of R be: 3x

i.e. The perimeter of R is given by:

Perimeter\ of\ R=2(2x+3x)

( Since, the perimeter of a rectangle with length L and breadth or width B is given by:

Perimeter=2(L+B) )

Hence, we get:

Perimeter\ of\ R=2(5x)

i.e.

Perimeter\ of\ R=10x

Also, let " s " denote the side of the square region.

We know that the perimeter of a square with side " s " is given by:

\text{Perimeter\ of\ square}=4s

Now, it is given that:

The perimeters of square region S and rectangular region R are equal.

i.e.

4s=10x\\\\i.e.\\\\s=\dfrac{10x}{4}\\\\s=\dfrac{5x}{2}

Now, we know that the area of a square is given by:

\text{Area\ of\ square}=s^2

and

\text{Area\ of\ Rectangle}=L\times B

Hence, we get:

\text{Area\ of\ square}=(\dfrac{5x}{2})^2=\dfrac{25x^2}{4}

and

\text{Area\ of\ Rectangle}=2x\times 3x

i.e.

\text{Area\ of\ Rectangle}=6x^2

Hence,

Ratio of the area of region R to the area of region S is:

=\dfrac{6x^2}{\dfrac{25x^2}{4}}\\\\=\dfrac{6x^2\times 4}{25x^2}\\\\=\dfrac{24}{25}

6 0
3 years ago
Read 2 more answers
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