We need to compute the exact number of days of the loan.
Given:
Loan: 1,870
rate: 11%
term: Oct. 5 to Jan 16.
Oct 5-Oct 31: 26 days
Nov: 30 days
Dec: 31 days
Jan 16: 16 days.
total number of days: 103 days.
Interest = Principal * rate * term
Interest = 1870 * 0.11 * 103/365
Interest = 58.05
Given:
Promissory note $5,380
rate 6.2%
term: July 15 to Dec. 28
July 15 - 31 = 16 days
August: 31 days
September: 30 days
October: 31 days:
November: 30 days
December: 28 days
Total number of days is 166 days
Interest = Principal * rate * term
Interest = 5,380 * 0.062 * 166/365
Interest = 151.70
12 * 3 = 36, 1/2 * 3 = 1 1/2
36 + 1 1/2 = $37.50 for about 13 kilograms of sand.
Answer:
194 miles
Step-by-step explanation:
The base fee of $15.99 is going to have to be paid, whether any miles are put on the truck or not. If the number of miles driven is our unknown, if we rent the truck for the base fee of $15.99 and drive it 0 miles, we still have to pay the $15.99. If we do drive it and we have to pay .92 a mile, the expression for that is .92x, where x is the number of miles driven (it is also the variable we are solving for!). The expression for this total cost is .92x + 15.99, and since we paid a total of $194.47, we set our cost equation equal to that number and solve for x:
.92x + 15.99 = 194.47 and
.92x = 178.48 so
x = 194 miles driven
