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angie07253
27.07.2019 •
Mathematics
If the simple interest on $7,000 for 33 years is $840, then what is the interest rate? the rate is _%
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Ответ:
Equation:
r = (1/t)(A/P - 1)
Calculation:
Solving our equation:
r = (1/33)((7840/7000) - 1) = 0.00363636
r = 0.00363636
Converting r decimal to R a percentage
R = 0.00363636 * 100 = 0.3636%/year
The interest rate required to get a total amount, principal plus interest, of $7,840.00 from simple interest on a principal of $7,000.00 over 33 years is 0.3636% per year.
Ответ:
This is because 5 times 5 equals 25.