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In each problem, (1) compute the actual exact interest (365day year) and (2) estimate the interest ...
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In each problem, (1) compute the actual exact interest (365day year) and (2) estimate the interest ...
In each problem, (1) compute the actual exact interest (365day 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
Edition:
16
^{th}
Authors:
Deitz, Southam
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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
1
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Solved
In each problem, (1) compute the actual exact interest (365day year) and (2) estimate the interest ...
Solved
In each problem, (1) compute the actual exact interest (365day year) and (2) estimate the interest ...
Solved
In each problem, (1) compute the actual exact interest (365day year) and (2) estimate the interest ...
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becky28
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Thank you, thank you, thank you!
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