3 years ago

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

1 answer:

3 0

I guess you mean simple interest
I = PRT/100

50000 = 548048 * 9 * t / 100

t = 50,000 * 100
------------------- = 1.013699 years
548048* 9

multiply this by 365 gives 370 days

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3 years ago

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3 years ago

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Answer:

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3 years ago

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VikaD [51]

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3 years ago

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