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Home Q & A Board Science-Related Homework Help Mathematics
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becky28 becky28
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2 weeks ago
In each problem, (1) compute the actual exact interest (365-day year) and (2) estimate the interest by rounding the principal to the nearest hundred dollars. For each estimate, assume that a year has 360 days and use the given suggestion to create a shortcut. Round answers to the nearest cent.

  
Actual
 
  
Exact
Estimated
 Principal, Rate, and Time
Interest
Interest
a.$3,600 at 8.12% for 45 days
__________
__________
   
(let I = 8%)
b.$2,515 at 8% for 91 days
__________
__________
   
(let T = 90 days)
c.$3,280 at 11.8% for 60 days
__________
__________
   
(let I = 12%)
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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itnow96itnow96
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More solutions for this book are available here

a.Actual Exact Interest: $36.04; Estimated Interest: $36.00
b.Actual Exact Interest: $50.16; Estimated Interest: $50.00
c.Actual Exact Interest: $63.62; Estimated Interest: $66.00
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becky28 Author
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2 weeks ago
Thank you, thank you, thank you!
halyna
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Yesterday
Thanks
kiara23247843
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2 hours ago
Thanks
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