Question

1. A capital of $3,831 was lent, and it has produced interest of $840 from 05-12-2022 to 1-12-2023. At what annual simple interest rate was the capital lent?

100

likes
500 views

Answer to a math question 1. A capital of $3,831 was lent, and it has produced interest of $840 from 05-12-2022 to 1-12-2023. At what annual simple interest rate was the capital lent?

Expert avatar
Nash
4.9
85 Answers
Find the number of days from 05-12-2022 to 1-12-2023. May, 2022: 19 days June, 2022: 30 days July, 2022: 31 days August, 2022: 31 days September, 2022: 30 days October, 2022: 31 days November, 2022: 30 days December, 2022: 31 days January, 2023: 12 days So, there are a total of 245 days from 05-12-2022 to 01-12-2023. Find the simple interest rate using the formula written below. I=\frac{Prt}{365} Where I is the simple interest, P is the principal amount, r is the annual simple interest rate and t is the number of days. Plug in the given values. 840=\frac{3831\times r\times245}{365}, r\approx0.3267\approx32.67\%

Frequently asked questions (FAQs)
Math question: "If two triangles have two pairs of congruent angles and one pair of congruent sides in the same order, can we conclude that the triangles are congruent?"
+
What is the resultant vector when adding vector A (5i + 3j) to vector B (-2i - 4j)?
+
What is the variance of the set {2, 4, 6, 8} using the formula?
+
New questions in Mathematics
How much volume of water in MegaLiters (ML) is required to irrigate 30 Hectare crop area with depth of 20mm?
Let 𝑢 = 𝑓(𝑥, 𝑦) = (𝑒^𝑥)𝑠𝑒𝑛(3𝑦). Check if 9((𝜕^2) u / 𝜕(𝑥^2)) +((𝜕^2) 𝑢 / 𝜕(𝑦^2)) = 0
If we have the sequence: 3, 6, 12, 24 Please determine the 14th term.
Let the vectors be u=(-1,0,2) , v=(0,2,-3) , w=(2,2,3) Calculate the following expressions a)<u,w> b) &lt;2u- 5v,3w&gt;
8x²-30x-10x²+70x=-30x+10x²-20x²
Eight acts are scheduled to perform in a variety show how many different ways are there to schedule their appearances show your work
5) A family with a father, mother and 3 children must sit on five chairs in a row and the only restriction is that the mother must be at one end. In how many different ways can they be seated?
A client did not advance L 10,000 for the rental of a parking area and it corresponds to 4 months, of which 2 months were consumed
Determine the absolute extrema of the function 𝑓(𝑥)=𝑥3−18𝑥2 96𝑥 , on the interval [1,10]
what is the annual rate on ​$525 at 0.046​% per day for 3 months?
7/6-(-1/9)
Identify a pattern in the list of numbers.Then use this pattern to find the next number. 37,31,25,19,13
By direct proof, how can you prove that “The sum of any three consecutive even integers is always a multiple of 6”.
I need to know what 20% or £3292.75
The sum of two numbers is 144. Double the first number minus thrice the second number is equal to 63. Determine the first two numbers.
In the telephone exchange of a certain university, calls come in at a rate of 5 every 2 minutes. Assuming a Poisson distribution, the average number of calls per second is: a) 1/8 b) 1/12 c) 1/10 d) 2/5 e) 1/24
I. Order to add 40.25+1.31+.45 what is the first action to do ?
1. A jeweler has two gold bars, with 80% purity and the other with 95% purity. How much of each must be melted to obtain a 5 kilo ingot with 86% purity?
To find the increased amount on a standard term deposit with the following conditions: starting amount: BGN 13000, type of deposit: annual, annual compound interest rate: 1.4%, after 4 years;
the length of the fenced in area is to be 5 ft greater than the width and the total amount of fencing to be used is 89 ft find the width and length