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Otrada [13]
2 years ago
8

April took out a $600 loan from the bank.At the end of 5 years, she pays back the principle,plus $60 simple interest.What was th

e annual interest rate?​
Mathematics
1 answer:
Vedmedyk [2.9K]2 years ago
3 0

Answer:

April took out a loan of $600 and paid it back with simple interest of $60 after 5 years. The formula to calculate interest is  given the principal  and the time   and the interest rate  is . For this problem we have to find the interest rate   given  . To archive that , we can just solve the equation making the interest rate the subject of the formula as shown below,

I= Prt

=> r= I/Pt

=> r= 60/600x5 = 1/50

The interest rate is 1/50 or 0.02 as a decimal. The interest rate is 2% as a percentage.

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Zac and Lynn are each traveling on a trip. So far, Zac has traveled 123.75 miles in 2.25 hours. Lynn leaves half an hour after Z
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Complete question is;

Zac and Lynn are each traveling on a trip. So far, Zac has traveled 123.75 miles in 2.25 hours. Lynn leaves half an hour after Zac. So far

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Let a represent the number of hours that have elapsed since Zac started traveling. Let y represent the number of miles traveled. Write a system of linear equations that represents the distance each of them has traveled since Zac left on his trip.

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Determine the solution of the system of linear equations.

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Lynn: y = 60(a - ½)

6 hours after Zac started traveling, both Zac and Lynn would have covered 330 miles each.

Step-by-step explanation:

Zac has traveled 123.75 miles in 2.25 hours. Since he travels at constant speed, we can say;

zac's speed = 123.75/2.25 = 55 mi/hr

Similarly, Lynn traveled 105 miles in 1.75 hours. Thus, since she travels at a constant speed;

Lynn's speed = 105/1.75 = 60 mi/hr

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Thus;

a hours after Zac started travelling, his distance covered will be;

Zac: y = 55a

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Thus, Lynn's distance traveled after Zac started = 60(a - ½)

Lynn: y = 60(a - ½)

The solution will be when they have travelled equal distances a hours after Zac started. Thus;

55a = 60(a - ½)

55a = 60a - 30

60a - 55a = 30

5a = 30

a = 30/5

a = 6 hours

Putting 6 for a in y = 55a, we have;

y = 55 × 6

y = 330 miles

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