If $500 yields $51.76 in simple interest over 7yrs, what is the annual rate? Answer need to be rounded to the nearest thousandth

The annual rate of interest is 1.479%.

Step-by-step explanation:

Given,

Principle (P) = $500

Interest (I) = $51.76

Time (T) = 7 years

To find out the rate of interest (R).

Formula

Simple interest (I) =

According to the problem,

= 51.76

or, R =

or, R =  

= 1.4788 = 1.479% (approx)

1.5%

Step-by-step explanation:

Principal, P = $500

Simple interest S.I. = $51.76

Period, T = 7 years

Simple interest = P*R*T / 100

Let's make rate, R the subject of formula

R = 100 * S.I. / P * T

Slot in the respective values

R = 100 * 51.76 / 500 * 7

R = 1.5%

87%

step-by-step explanation:

apex answer

the solution of the equation is 2.23 ⇒ answer b

step-by-step explanation:

* lets revise the meaning of exponential function

- the form of the exponential function is y = ab^x, where a ≠ 0, b > 0 ,  

  b ≠ 1, and x is any real number

- it has a constant base b

- it has a variable exponent x

- to solve an exponential equation, take the log or ln of both sides,  

  and solve for the variable

* lets solve the problem

∵

- the base is 7 and the exponent is x

- insert ㏑ in both sides

∴

- use the rule

∴ x ㏑(7) = ㏑(77)

- to find x divide both sides by ㏑(7)

∴

* the solution of the equation is 2.23 to the nearest 2 decimal places