9. Q9
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Similar Question 1
<p>Jose borrows $1400 to buy a road racing bicycle. He repays the loan <code class='latex inline'>2</code> year later in the amount of <code class='latex inline'>\$1700</code>. What annual rate of simple interest was Jose charged?</p>
Similar Question 2
<p><strong>(a)</strong> Use algebraic reasoning to derive an equation to express the annual simple interest rate, <code class='latex inline'>r</code> in terms of the principal, <code class='latex inline'>P</code> , the amount, <code class='latex inline'>A</code>; and the time, <code class='latex inline'>t</code>, of a simple interest investment. </p><p><strong>(b)</strong> Use your formula from part (a) to determine the annual simple interest rate earned by an account that grows from $860 to $1000 in 3 years.</p>
Similar Question 3
<p>Sally has a balance of <code class='latex inline'>\$2845</code> on her credit card. What rate of simple interest is she being charged if she must pay <code class='latex inline'>\$26.19</code> interest for the 12 days her payment is late?</p>
Similar Questions
Learning Path
L1 Quick Intro to Factoring Trinomial with Leading a
L2 Introduction to Factoring ax^2+bx+c
L3 Factoring ax^2+bx+c, ex1
Now You Try
<p><strong>(a)</strong> Use algebraic reasoning to derive an equation to express the annual simple interest rate, <code class='latex inline'>r</code> in terms of the principal, <code class='latex inline'>P</code> , the amount, <code class='latex inline'>A</code>; and the time, <code class='latex inline'>t</code>, of a simple interest investment. </p><p><strong>(b)</strong> Use your formula from part (a) to determine the annual simple interest rate earned by an account that grows from $860 to $1000 in 3 years.</p>
<p>The graph represents the total amount of an investment of principle <code class='latex inline'>\$ P</code> earning a fixed rate of simple interest over a period of 5 years. </p><img src="/qimages/2474" /> <ul> <li>What interest rate is being applied?</li> </ul>
<p>Jose borrows $1400 to buy a road racing bicycle. He repays the loan <code class='latex inline'>2</code> year later in the amount of <code class='latex inline'>\$1700</code>. What annual rate of simple interest was Jose charged?</p>
<p>Sally has a balance of <code class='latex inline'>\$2845</code> on her credit card. What rate of simple interest is she being charged if she must pay <code class='latex inline'>\$26.19</code> interest for the 12 days her payment is late?</p>
<p>Mario borrows <code class='latex inline'>\$4800</code> for <code class='latex inline'>8.5</code> years at a fixed rate of simple interest. At the end of that time, he owes <code class='latex inline'>\$8000</code>. What interest rate is he being charged? </p>
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