Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Calculate the annual simple interest rate as a percent. A sum of money will be tripled in 25 years at the rate of __% per annum.

Sagot :

tanweeleong195oxyqwp

Step-by-step explanation:

Let x be the principal amount.

Simple Interest Formula:

[tex]a = p(1 + rt)[/tex]

where a = final amount

p = principal amount

r = annual interest rate

t = time taken in years.

given a = 3x, p = x, t = 25, substitute a,p and t into formula.

[tex]3x = x(1 + 25r) \\ 1 + 25r = 3 \\ 25r = 3 - 1 \\ 25r = 2 \\ r = 2 \div 25 \\ = 0.08 \\ = (0.08 \times 100)percent \\ = 8percent[/tex]

8%*

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.