(a) Mr Sarfo borrowed $25,000 from Afiak financial services at 21% simple interest per annum for 3 years if he was able to pay back the loan in two years at equal yearly installments how much did he pay each year?
(b) Two consecutive numbers are such that the sum of thrice the smaller and twice the larger is 17.
find correct through three significant figures the smaller number as a percentage of the sum of the two numbers
(a) interests = \(\frac{25000 *3 * 21}{100}\)
= $ 15750.00
amount paid = 25000 + 15750
= $40,750.00
amounts paid by year = 40750.00 / 2
= $ 20375.00
(b) let's be consecutive numbers be X and X + 1
3X + 2(X + 1) = 17
3X + 2X + 2 = 17
5x = 15
x = 3
some of the numbers = 3 + 4 = 7
Percentage = \(\frac{3}{7}\) * 100
= 42.857 or 42.9%
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