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Zolol [24]
2 years ago
6

If an eight-day single payment loan has a periodic interest rate of 11.1%, what is the approximate effective interest rate of th

e loan?
Mathematics
2 answers:
Dvinal [7]2 years ago
4 0
Effective interest rate= Daily interest rat = Annual interest rate/number of days in a year

Annual interest rate = 11.1%
Number of days in a year = 365

Therefore,
Effective interest rate = 11.1/365 = 0.03%
Rzqust [24]2 years ago
4 0

12,081.6% for apex,.........,,.,.,.,.,.,            

 

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An ostrich can run 6 mph faster than a giraffe. An ostrich can run 7 miles in the same time that a giraffe can run 6 miles. Find
LUCKY_DIMON [66]

NOTE THIS IS AN EXAMPLE:

Let t = time, s = ostrich, and g = giraffe.

Here's what we know:

s = g + 5 (an ostrich is 5 mph faster than a giraffe)

st = 7 (in a certain amount of time, an ostrich runs 7 miles)

gt = 6 (in the same time, a giraffe runs 6 miles)

 

We have a value for s, so plug it into the first equation:

(g + 5)t = 7

gt = 6

 

Isolate g so that we can plug that variable value into the equation:

g = 6/t

so that gives us:

(6/t + 5)t = 7

Distribute:

6 + 5t = 7

Subtract 6:

5t = 1

Divide by 5:

t = 1/5 of an hour (or 12 minutes)

 

Now that we have a value for time, we can plug them into our equations:

1/5 g = 6

multiply by 5:

g = 30 mph

 

s = 30 + 5

s = 35 mph

 

Check by imputing into the second equation:

st = 7

35 * 1/5 = 7

7 = 7

5 0
2 years ago
Anthony borrows $6.50 from a friend to pay for a sandwich and drink at lunch. Then he borrows $3.75 from his sister to pay a lib
Katen [24]

Money borrowed by Anthony from his friend for a sandwich and drink at lunch = $6.50

Money borrowed by Anthony from his sister to pay a library fine = $3.75

Hence, the equation to express Anthony's total debt that day will be =

Let T be the total debt , so the equations becomes,

6.50 + 3.75 = T

8 0
2 years ago
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It would be 1.5 degrees in 5 hours
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2 years ago
Natalie budgets $146 for yoga training. She buys a yoga mat for $10 and spends $9 per day on yoga classes. Which inequality repr
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Answer:

15

Step-by-step explanation:

you have to take away the 10 from 146 and that leaves you with 136 once you divide 136 by 9 you get 15.1 repeating but you cant take a portion of a class so your answer would be 15

 

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2 years ago
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Use the scale and map measurements to find the actual distance from New Wilmington to Sharon through Mercer. What is the actual
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Your answer is C!

Hope i helped!
  

~Cakes



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