Register
a company borrowed 25000 at 3.5% and was charged 2625 and interest how long will it take for the company pay
127k views
5 votes
a company borrowed 25000 at 3.5% and was charged 2625 and interest how long will it take for the company pay

User Subramn
by
7.8k points

1 Answer

2 votes


\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$2625\\ P=\textit{original amount deposited}\dotfill & \$25000\\ r=rate\to 3.5\%\to (3.5)/(100)\dotfill &0.035\\ t=years \end{cases} \\\\\\ 2625=(25000)(0.035)t\implies \cfrac{2625}{(25000)(0.035)}=t\implies 3=t

User Shawnette
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!