mollycakes1007 mollycakes1007

07-12-2019
Mathematics

contestada

you purchase a new guitar and take a loan for $450. you have 18 equal monthly payments of $28 each. what is the simple interest rate for the loan

Respuesta :

sqdancefan sqdancefan

07-12-2019

Answer:

8%

Step-by-step explanation:

The amount repaid is ...

A = P(1 +rt)

Filling in the given values, we can find r.

(18·28) = 450(1 +r(18/12)) . . . . . t is in years

504 = 450 + 675t

54/675 = 0.08 = 8%

The simple interest rate on the loan is 8%.

Answer Link

Otras preguntas

Find the approximate value of each trigonometric function. 31 Given that tano 3.454 where << find the values of sine and cose. If necessary, round to 3 2

How much energy is needed to perform 300 J of work?

Joseph bicycled 3 miles farther than Nickeisha. The sum of the distances they bicycled was 25 miles. How far did Nickeisha bicycle

Which of the followinkg is a rational number that is not an integer? -2 -0.5 0 4

Plz help me well mark brainliest if correct!!...

Question 2: In a dental clinic with one dentist, the average number of patients from time to time is 2. What is the dentist's expected idle time each day?

Here is the graph of a quadratic function f. Select all equations that could define the function f.

Explain how a root hair cell is specialised for its function

Is there anything else you can do to help the environment?

help!!!!!!!!!!!!!!!!!