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Home Q & A Board Science-Related Homework Help Mathematics
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asjstr asjstr
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4 years ago

Question 1.

The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent.

P = $10,500.00
r = 12%
t = 60 days

▸ $207.12

▸ $1260.00

▸ $630.00

▸ $210.00

Question 2.

The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t. Round answer to the nearest cent.

P = $700.00, r = 5%, t = 8 months

▸ $1023.33

▸ $728.33

▸ $980.00

▸ $723.33
Textbook 
Thinking Mathematically

Thinking Mathematically


Edition: 6th
Author:
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KaajalpKaajalp
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4 years ago
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