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Popular Word Problems >

April wants to borrow 960 from her father and is willing to pay 12 in interest. Her father wants to charge an interest rate of 5%. How long can April keep the money?

Solución

A p r i l w an t s t o b orro w 960 f ro m h er f a t h er an d i s w i ll in g t o p a y 12 in in t eres t . Her f a t h er w an t s t o c ha r g e an in t eres t r a t e o f 5%. Ho w l o n g c an A p r i l k ee p t h e m o n ey ?

Solución

Time : \frac{1}{4}

Pasos de solución

Translate the problem into an equation:

12 = 960 \cdot 0.05 t

Resolver para

t, 12 = 960 \cdot 0.05 t : t = \frac{1}{4}

Time : \frac{1}{4}

Ejemplos populares

Find the amount Erica owes at the end of 5 years if \$5100 is loaned to her at a rate of 7% compounded monthly.A number less than 18 is 85 what is the number How much interest does a 407 investment earn at 6%over 7 years?twice the diferencia of a number and 2 A child’s grandparents wish to purchase a bond fund that matures in 18 years to be used for the grandchild’s college education. The bond fund pays 4% interest compounded semi-annually. How much should they purchase so that the bond fund will be worth 85,000 at maturity?