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Yolo4mecuite
Group Title
Ryan borrowed money from the bank for 3 years. At the time the bank had an interest rate of 4.25%. He ended having to pay 102$ in interest. How much money did Ryan borrow. Show all work!
 one year ago
 one year ago
Yolo4mecuite Group Title
Ryan borrowed money from the bank for 3 years. At the time the bank had an interest rate of 4.25%. He ended having to pay 102$ in interest. How much money did Ryan borrow. Show all work!
 one year ago
 one year ago

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wio Group TitleBest ResponseYou've already chosen the best response.1
Okay so here is the formula:\[\Large Interest = Principle \times {Rate} ^ {Time}\] We know Interest = $102, Rate = 4.25%, and Time = 3 years. So can you plug these into the formula and solve for Principle?
 one year ago

Yolo4mecuite Group TitleBest ResponseYou've already chosen the best response.0
0.00783?
 one year ago

wio Group TitleBest ResponseYou've already chosen the best response.1
That's less than a cent. No way is he borrowing less than a cent from a bank and paying $102 interest on it.
 one year ago

Yolo4mecuite Group TitleBest ResponseYou've already chosen the best response.0
No nvm 13.oo5
 one year ago

WhiiteRussian Group TitleBest ResponseYou've already chosen the best response.0
Because you have to convert the rate to a decimal
 one year ago

wio Group TitleBest ResponseYou've already chosen the best response.1
That looks better.
 one year ago

Yolo4mecuite Group TitleBest ResponseYou've already chosen the best response.0
I converted it to 0.0425
 one year ago

Yolo4mecuite Group TitleBest ResponseYou've already chosen the best response.0
Okay Thanks guys! 😊
 one year ago
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