You have two loans, for 2 years each. The total interest for the two loans is $138. On the first loan, you pay 7.5% simple interest on a principal of $800. On the second loan, you pay 3% simple interest. What is the principal for the second loan?

Answers

Answer 1

Answer:

Answer:

$300

Step-by-step explanation:

We are told that you have two loans, for 2 years each. The total interest for the two loans is $138. On the first loan, you pay 7.5% simple interest on a principal of $800.

Let us find the amount of interest for 1st loan.

$I=Prt$ , where,

I = Amount of interest,

P = Principal amount,

r = Interest rate in decimal form,

t = Time

Let us convert our given rate for 1st loan in decimal form

$7.5\%=(7.5)/(100)=0.075$

$I=\$800*0.075*2$

$I=\$800*0.15$

$I=\$120$

Now let us find the amount interest for 2nd loan.

$\text{Amount of interest for 2nd loan}=\$138-\$120$

$\text{Amount of interest for 2nd loan}=\$18$

Let us convert our given rate for 2nd loan in decimal form

$3\%=(3)/(100)=0.03$

Upon substituting our given values for 2nd loan in interest formula we will get,

$\$18=P*0.03*2$

$\$18=P*0.06$

$(\$18)/(0.06)=(P*0.06)/(0.06)$

$\$300=P$

Therefore, the principal amount for the 2nd loan is $300.

Answer 2

Answer: Hi there! Interest on the first loan is 800×.075×2=120. The interest on the second loan is 138-120=18. Now, we have to use the simple interest formula. 18=P×.03×2=300. Therefore, the answer is $300.

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the common ratio of a geometric series is 3 and the sum of the first 8 terms is 3280. what is the first term of the series?

Answers

Answer: 1

Step-by-step explanation:

The formula for calculating the sum of a Geometric series if the common ratio is greater than 1 is given as :

$S_(n)$ = $(a(r^(n)-1) )/(r-1)$

Where $S_(n)$ is the sum of terms , a is the first term , r is the common ratio and n is the number of terms.

From the question:

$S_(n)$ = 3280

a = ?

r = 3

n = 8

Substituting this into the formula , we have

3280 = $(a(3^(8)-1) )/(3-1)$

3280 = $(a(6561-1))/(2)$

Multiply through by 2 , we have

6560 = a ( 6560)

divide through by 6560, we have

6560/6560 = a(6560)/6560

Therefore : a = 1

The first term of the series is thus 1

Answer:

Step-by-step explanation:

Photo above! How do I find the area of this? I'm more concerned about how to find the answer than the actual answer itself. I just need to know how to find the area

Answers

Well, this is how I do it. Multiply 4 and 10 and get the area of the whole thing. Answer is 40. Then, multiply 3 and 5. (I got 5 from subtracting 2 and 3 from 10). This gives me the area of the missing piece. Answer is 15. Lastly, I subracted. 40 - 15. Gave me 35. My final answer I got is 35. I hope my answer is correct! I hope this helped!

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What's the expanded form for 79,031

Answers

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Estimate the difference between 206 and 167

Answers

The difference means we want to how much is one number greater or less than the other.
To estimate the difference we will simply subtract the smaller number from the larger one.

The given numbers are: 206 and 167
It is obvious that 167 is less than 206. Therefore, we will subtract the 167 from the 206.

The difference between the two numbers is:
206 - 167 = 39

How would
you figure this out I don't know how