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Chapter 5: Q. 1 (page 324)

What is the interest due if $500 is borrowed for 6 months at a simple interest rate of 6% per annum?

Short Answer

Expert verified

The interest due is $90.

Step by step solution

01

Step 1. Given information

The amount borrowed is Principle (P) = $500

Rate of interest (r) = $6 % = \frac{6}{100} = 0.06$

Time (t) = 6 months = $\frac{6}{12} = \frac{1}{2} y e a r s$

02

Step 2. Use simple interest formula.

If a principal of $P$ dollars borrowed for a time period of $t$ years at a per annum interest rate $r$ , expressed as a decimal, the interest $I$ charged is,

$I = P r t$

Plug the values, Interest charged is

role="math" localid="1646652344857" $I = 500 \times 0.06 \times \frac{1}{2} = 250 \times 0.06 I = $ 15$

03

Step 3. Explanation

Interested charged for 1 month is $15,

Interest due for 6 months is $6 \times $ 15 = $ 90$

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Most popular questions from this chapter

Evaluate each expression using the values given in the table.

(a) $(f \circ g) (1)$ (b) $(f \circ g) (2)$ (c) $(g \circ f) (2)$ (d) $(g \circ f) (3)$ (e) $(g \circ g) (1)$ (f) $(f \circ f) (3)$ .

The domain of one-to-one function g is $[0, 15]$ , and range is $(0, 8)$ . State the domain and range oflocalid="1646180141229" $g^{- 1}$

Use the graph of $y = f (x)$ given in Problem $44$ to evaluate

the following:

(a) $f (2)$

(b) $f (1)$

(c) $f^{- 1} (0)$

(d) $f^{- 1} (- 1)$

solve each equation. Verify your results using a graphing utility.

$5^{x^{2} + 8} = 125^{2 x}$

Vehicle Stopping Distance Taking into account reaction time, the distance $d$ (in feet) that a car requires to come to a complete stop while traveling $r$ miles per hour is given by the function

localid="1646198784356" $d (r) = 6.97 r - 90.39$

a. Express the speed $r$ at which the car is traveling as a function of the distance localid="1646198792401" $d$ required to come to a complete stop

b. Verify that localid="1646198797631" $r = r (d)$ is the inverse of localid="1646198802104" $d = d (r)$ by showing that localid="1646198806352" $r (d (r)) = r$ and localid="1646198811055" $d (r (d)) = d$

c. Predict the speed that a car was traveling if the distance required to stop was localid="1646198818232" $300$ feet.

$d (r (d)) = d$

See all solutions

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