brandonjohnsonp4j89s brandonjohnsonp4j89s
  • 24-02-2018
  • Mathematics
contestada

Find the banker's interest to the nearest cent. Principal: $2,500; Rate: 9%; Time: 180 days: Interest: ? (based on a 365 day year).

Respuesta :

carlosego
carlosego carlosego
  • 06-03-2018
You can solve this problem by applying the Simple interest formula, which is:
 
 I=PxRxT
 
 I: Simple Interest.
 P: Principal.
 R: Rate
 T: Time (It must be expressed in years or a fraction of years).
 
You have:
 
 P=$2500
 R=9%=0.09
 T=180 days=180/365
 
 When you substitute these values into the formula, you obtain:
 
 I=PxRxT
 I=($2500)(0.09)(180/365)
 I=$110.959

Answer Link

Otras preguntas

Can some one please help
What does the GI Bill do? Select the best answer choice. A. The GI Bill guarantees veterans high-paying jobs in several professions. B. The GI Bill is the am
The graph represents data from an experiment complete the sentence by selecting the correct description type from the drop-down menu. The description of the exp
Need answer please!!!!
Really eeraretHey dude reeeerrwwa
What is the function of the red arrow ?
Which three statements are true as they relate to supply and demand?
Complete the congruency statement for the figure shown. ABC=____
the free energy of an object is the total available energy that the object possessestrue or false?​
Use the diagram for questions 7 - 9.7:What is the relationship between the two angles?a-Complementaryb-Linear Pairc-Vertical Angles8: Solve for x.a-x = 51b-x =