Answer:
[tex]x=\frac{7}{15}[/tex]
Step-by-step explanation:
[tex]5x-\frac{1}{5} =\frac{7}{3}[/tex]
[tex]5x - \frac{3}{15} = \frac{35}{15}[/tex]
[tex]5x - \frac{3}{15} + \frac{3}{15} = \frac{35}{15} + \frac{3}{15}[/tex]
[tex]5x=\frac{35}{15}[/tex]
[tex]\frac{5x}{5} } =\frac{\frac{35}{15}}{5}[/tex]
[tex]x=\frac{7}{15}[/tex]
If the principal is $4,500 and the rate of interest is 8%, what is the amount of interest after one year? Formula is I =PRT
Step-by-step explanation:
I=?
P= $4500
R=8%=0.08
T=1 year
8%*0.01= 0.08
I=(4500)(0.08)(1)
(4500)(0.08)=360
360*1=360
The interest after one year is $360