<h3>Y
ou have the correct answer</h3><h3>Interest rate = 21.5%</h3>
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Work Shown:
i = P*r*t .... simple interest formula
i = simple interest
i = 2075-1000 = 1075
P = 1000 = amount borrowed (principal)
r = unknown interest rate
t = 5 = time in years
So,
i = P*r*t
1075 = 1000*r*5
1075 = 5000r
5000r = 1075
r = 1075/5000
r = 0.215
r = 21.5%
Step-by-step explanation:
first u must find the area of the rectangle.after that,find the area of the square.then you have tu subtract it so that u can get the orange area.
Answer:
This would mean that the next year her car's value would go down by $2,625. The new value of the car would consequently be $34,875.
<h3><u>
Step-by-step explanation:</u></h3>
<em>Here is how you can solve this problem:</em>
- Okay, so first, let's find 7% of $37,500. To do this, the simple way would be to find first 1% of $37,500.
- 1% of $37,500 is $375. This is because you are moving the decimal point two spaces to the left.
Now that we know that 1% of $37,500 is $375, let's multiply this value by 7.
- Subtract 2625 from 37,500.
Let's say that the next year, her car value goes down by 7% again.
THIS IS THE IMPORTANT PART:
<em>YOU FIND 7% OF THE NEW VALUE, NOT $37,500. YOU WOULD FIND 7% OF $34,875.</em>
<em>Hope this helps! :) </em>
