raizagisselle1273
02.07.2019 •
Business
Question 4 (multiple choice) how many days would it take a $7,300 home-remodeling loan to earn $2,000 exact interest at 8% interest rate? a. 1,250 b. 1,000 c. 1,080 d. 350
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Ответ:
Now use the formula of simple interest
I=p×r×(t/365)
I interest earned 2000
P amount of the loan 7300
R interest rate 0.08
T time t days
Solve the formula for t to get
T=[I÷(pr)]×365
T=(2,000÷(7,300×0.08))×365
T=1,250 days
Hope it helps!
Ответ: