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jekas [21]
3 years ago
6

How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?

Mathematics
2 answers:
san4es73 [151]3 years ago
8 0
\bf \qquad \textit{Simple Interest Earned}\\\\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\to &50000\\
P=\textit{original amount deposited}\to& \$548048\\
r=rate\to 9\%\to \frac{9}{100}\to &0.09\\
t=years
\end{cases}
\\\\\\
50000=548048\cdot 0.09t\implies \cfrac{50000}{0.09(548048)}=t\implies 1.014\approx t
SOVA2 [1]3 years ago
3 0

Answer:

The answer is 370 days

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