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-Dominant- [34]
3 years ago
5

Janet took out a loan of $50,000 from Bank of America at 8% on March 19, 2015, which is due on July 8, 2015. Using exact interes

t, the amount of Janet's interest cost is:
Mathematics
1 answer:
Paladinen [302]3 years ago
5 0
The formula for this is I = PRT
I = Interest
P = Principal (starting amount) = $50,000
R = Rate (percentage) = 8% = .08
T = Time in years = days/years = 111/365

I = 50000(.08)(111/365)
I = $1216.438 
I = $1216.44 (rounded)


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Felix’s feed mill sells chicken feed for $8.00 per bag. this price is no longer high enough to create a profit. felix decides to
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3 years ago
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5 0
4 years ago
Rachel is collecting donations for the local animal shelter. So far she has collected $245, which is 70% of what she hopes to co
Nata [24]

Answer:

The money Rachael plan to collect for the shelter is <u>$350</u>.

Step-by-step explanation:

Given:

Rachel is collecting donations for the local animal shelter.

So far she has collected $245, which is 70% of what she hopes to collect.

Now, to find the money Rachael plan to collect for the shelter.

Let the total amount Rachael plan to collect be x.

Amount she collected = $245.

Percentage of amount she collected = 70%.

Now, to get the amount Rachael plan to collect we put an equation:

70\%\ of\ x=\$245.

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Therefore, the money Rachael plan to collect for the shelter is $350.

4 0
4 years ago
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