Jeff purchased a government bond, which has a maturity value of $3400 after 25 years at 11 1⁄4 % simple interest. How much should he pay for this bond?

Please help with a step by step!!

he should pay $891.8 for this bond

Step-by-step explanation:

The formula for determining simple interest is expressed as

I = PRT/100

Where

I represents interest paid on the government bond.

P represents the principal or amount paid for the government bond.

R represents interest rate

T represents the duration of the government bond in years.

From the information given

R = 11.25

T = 25 years

I = 3400 - P

Therefore,

3400 - P = (P × 11.25 × 25)/100

3400 - P = 2.8125P

2.8125P + P = 3400

3.8125P = 3400

P = 891.8

x=-2

infinite number of lines, so there is an infinite number of equations.

step-by-step explanation:

there are an infinite number of line that passes through the point (-2,5)

x=-2   is one line that passes through the point

y = 5 is another line that passes through the point

(these two lines are perpendicular to each other).

since the number of   numbers are infinite and the slope is the ratio of two numbers,(change in y over change in x) we can have an infinite number of slopes.     our only condition is that it passes through the point (-2,5)