Thank you for visiting Your brother lends you 125 at an annual interest rate of 25 If you want to pay no more than 62 50 in simple interest. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
lets write an equation describing the interest rate y:
y = 125(25%)x
where x is the number of years, lets simplify that equation
y = (125)(25/100)x
y = 31.25x
now lets substitute the maximum amount that we want to pay and solve for x, the number of years:
62.50 = 31.25x
x = 62.50/31.25
x = 2
therefore, the loan needs to be paid in 2 years in order to pay $62.50 of interest
y = 125(25%)x
where x is the number of years, lets simplify that equation
y = (125)(25/100)x
y = 31.25x
now lets substitute the maximum amount that we want to pay and solve for x, the number of years:
62.50 = 31.25x
x = 62.50/31.25
x = 2
therefore, the loan needs to be paid in 2 years in order to pay $62.50 of interest
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Rewritten by : Jeany
