Question

@MelissaHolmes plz help :D

I don't get this :(
Wait so I have another question..

Kyle paid $96 in interest to borrow $7200 for 4 months.

What annual interest rate did Kyle pay?
A.
1.33%
B.
4%
C.
5.33%
D.
16%

so would I take the $7200*..? and that's where im stuck

Answer 1

ok... so you would change 96 into a percent and multiply it by the $7200

Answer 2

how do I change it into a percent??

Answer 3

if you had .6 and changed it to a percent... it would be 60... so basically to change it to percent multiply by 100

Answer 4

..I still don't get it..

Answer 5

hang on... is there a specific formula for interest rate that you are supposed to use?

Answer 6

I don't know what that means but there is the question..

Kyle paid $96 in interest to borrow $7200 for 4 months.

What annual interest rate did Kyle pay?









A.
1.33%







B.
4%







C.
5.33%







D.
16%

Answer 7

ok, give me a sec then... trying to solve...

Answer 8

so your interest formula is I = PRT

Answer 9

Interest is I
Principal is P
R is rate --> you're trying to solve for this
and T is time

Answer 10

ok :D

Answer 11

so 96 is your interest
72000 is your principal
and 4 months is your time

Answer 12

*7200

Answer 13

so plug the values into the formula:
96 = 7200(r)(4)

Answer 14

???

Answer 15

now you can solve for r:
96 = 7200*4*r
96 = 28800*r
96/28800 = r
.0366 = 3

Answer 16

that's rounds to .04 which is 4%

Answer 17

do you get it?

Answer 18

no..not at all..

Answer 19

ok... so where do you not understand?

Answer 20

I don't understand any of it...at all

Answer 21

well..i get this!
"so 96 is your interest
72000 is your principal
and 4 months is your time"

Answer 22

7200*

Answer 23

ok... so yeah. then I plugged the values into your formula I = PRT

Answer 24

the 96 for I
the 7200 for P
and 4 for T

Answer 25

okay so far?

Answer 26

maybe.... idk about my teaching skills...

Answer 27

ok... i'll go on... tell me when I've lost you, k?

Answer 28

ok :D

Answer 29

so I got the 96 = 7200(r)(4) by plugging the values into the equation

Answer 30

then: do you know how to solve for variables?

Answer 31

wait so
96=interest
7200= principle..=what is that?
and 4= the time
________________________________
No I dont

Answer 32

Principle is the total cost; in this case 7200

Answer 33

OH OK! :D

Answer 34

oops sorry cap lock lol

Answer 35

its ok :D

Answer 36

anyway: you don't know how to solve for variables? like x and y?

Answer 37

no...wait...kinda!! like 2+x=5 so x would be 3?! Like that?? I kinda know that

Answer 38

yeah! like that...

Answer 39

so, basically, you do the opposite operation when solving; like it there is addition, you do subtraction, if there is multiplication you do division....

Answer 40

:D

Answer 41

96 = 7200*4*r --> this is the equation with multiplication signs
96 = 28800*r --> it would be easier to simplify before solving (so 7200 *4)
96/28800 = r --> now the previous operation was multiplication; so you divide
.0366 = r --> the division results in this

Answer 42

got that?

Answer 43

"r" is the thing you are solving for... the question is "what is the rate" and r is for rate

Answer 44

the r is basically kinda like x in an equation; you solve for r.

Answer 45

OH! ok!

Answer 46

ok, so you understand it now, right?

Answer 47

nope..not at all.. :(

Answer 48

ok... what do you not understand?

Answer 49

nvm its ok ill just ask someone else i have already wasted enof of ur time

Answer 50

ok, i hope I was at least sorta helpful :D

Answer 51

yes! vary much! :D

Answer 52

ok! good! :D