N=43
N-5=38
You add five on both sides, to isolate n.
N=43
Answer:
Step-by-step explanation:
We would apply the formula for determining simple interest which is expressed as
I = PRT/100
Where
P represents the principal
R represents interest rate
T represents time in years
I = interest after t years
From the information given
T =172 days = 172/365 = 0.47 years
P = $4400
R = 6%
Therefore
I = (4400 × 6 × 0.47)/100
I = 12408/100
I = $124.08
The maturity of the loan would be
4400 + 124.08 = $4524.08
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