A loan of $1500 attracts a daily interest of 3(0.29) = $0.87
For 120 days you pay $0.87 x 120 = $104.40 interest.
I = PrT; where P is the principal, r is the annual interest rate and T is the time.
500 x r x 1/365 = 0.29
r = 0.29 x 365 / 500 = 105.85/500 = 0.2117
Therefore,, Annual interest rate = 21.17%
The answer is 7/1, when you want to know a reciprocal, all you do to the fraction is flip it around. Hope this Helps!
Answer:
What are you trying to find?
Step-by-step explanation:
Answer:
i so exponets are numbers that can go into anything
Step-by-step explanation:
i just told you
