Find common denominators and move from there
with what? you need to explain whats going on in order to get the help you need!
The formula for simple annual interest is:
I = Prt
where,
I = Interest accumulated = $910.90
P = Principal Amount = $62000
r = Interest rate = 9.4% = 0.094
t = time in years
Using the values in above equation, we get:
910.90 = 62000 x 0.094 x t
⇒ t = 910.90/(62000 x 0.094) = 0.156
This is the time in years. Since there are 365 days in a year, the time in days will be:
t = 0.156 x 365 = 57 (rounded to nearest day)
This means, Nate kept the borrowed money for 57 days
P = 18,000
R=6%
T=7 years
A = P ( 1 + 1 divided by r) raised to n
Substitute the numbers an u will fin the answer
