WinxClubcharact WinxClubcharact
  • 04-05-2017
  • Mathematics
contestada

Tom borrowed $35,000 to remodel his house. At the end of the 5-year loan, he had repaid a total of $46,375. At what simple interest rate did he borrow the money?

Respuesta :

tayyrenee21
tayyrenee21 tayyrenee21
  • 04-05-2017
46,375=35,000+5m

46,375-35,000=11,375

11,375/5=2,275

2,275/35,000=0.065

this means over the course of 5 years, tom payed 0.065% interest for the 35,000 loan
Answer Link

Otras preguntas

Abdul drove 320 miles using 12 gallons of gas. At this rate, how many gallons of gas would he need to drive 296 miles?
during a chemical rreaction where starch is broken down into glucose, what will happen if an enzyme is added to the reactant
the earliest of the greek architectural orders was a. corinthian. b. doric. c. mycenaean. d. ionic.
repeated subtraction
name the type of subunits that form amylase
before a chemical reaction can start, energy must be absorbed by the reactants. the amount that must be absorbed to start the reaction is called the blank.
divide 33 photos into two groups so that the ratio is 4 to 7
who is the ruler of a tribal rule
−5x − 8y = 17 2x − 7y = −17
What should you do if your exercise schedule you make for yourself is not working out well by mid week ?