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AlexFokin [52]
3 years ago
10

What is the exact simple interest on 150-day loan of 2,350 at %10

Mathematics
1 answer:
Crazy boy [7]3 years ago
3 0

Answer:

  96.58

Step-by-step explanation:

The formula for simple interest is ...

  I = Prt

where P is the principal, r is the rate, and t is the time period in years.

Exact interest is computed using 365 days per year, so the time period is ...

  t = 150/365

Then the interest is ...

  I = 2350(0.10)(150/365) = 96.58

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