If a person borrows $2500.00 and, after 9 months, pays off the loan in the amount of $2603.13, what per annum rate of interest was charged?

The annual interest rate was of 5.5%.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time, in years.

After t years, the total amount of money is:

.

In this problem:

Borrows 2500, so

Pays off the loan at $2603.13, so

This means that

.

We also have

9 months. An year has 12 months, so

We have to find I.

The annual interest rate was of 5.5%.

sorry not sure

step-by-step explanation:

{x = -1/2 ,   y = -1

step-by-step explanation:

solve the following system:

{2 x + y = -2

{10 x - 3 y = -2

in the first equation, look to solve for y:

{2 x + y = -2

{10 x - 3 y = -2

subtract 2 x from both sides:

{y = -2 x - 2

{10 x - 3 y = -2

substitute y = -2 x - 2 into the second equation:

{y = -2 x - 2

{10 x - 3 (-2 x - 2) = -2

10 x - 3 (-2 x - 2) = (6 x + 6) + 10 x = 16 x + 6:

{y = -2 x - 2

{16 x + 6 = -2

in the second equation, look to solve for x:

{y = -2 x - 2

{16 x + 6 = -2

subtract 6 from both sides:

{y = -2 x - 2

{16 x = -8

divide both sides by 16:

{y = -2 x - 2

{x = -1/2

substitute x = -1/2 into the first equation:

{y = -1

{x = -1/2

collect results in alphabetical order:

answer:   {x = -1/2 ,   y = -1