How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?
1 answer:
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Answer:
a)
<u>The discount id 40%, so the function is:</u>
- d = 0.4p
b)
- p = 100 ⇒ d = 40
- p = 200 ⇒ d = 80
- p = 300 ⇒ d = 120
- p = 400 ⇒ d = 160
- p = 500 ⇒ d = 200
<em>The graph is attached</em>
c)
- p = $85 ⇒ d = 0.4*$85 = $34
<u>Sale price is:</u>
- CP = p - d = $85 - $34 = $51
