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Home Q & A Board Science-Related Homework Help Mathematics
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cassandra_dan cassandra_dan
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A year 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.$2,251 at 11.9% for 182 days
__________
__________
   
(let I = 12%)
   
(let T = 180 days)
b.$22,825 at 6.1% for 59 days
__________
__________
   
(let I = 6%)
   
(let T = 60 days)
c.$2,860 at 8.3% for 271 days
__________
__________
   
(let I = 8%)
   
(let T = 270 days)
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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dangoondangoon
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A year ago
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cassandra_dan Author
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A year ago
Thanks
Danivalda
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Yesterday
this is exactly what I needed
acaruso
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2 hours ago
You make an excellent tutor!
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