I = Adt; where p = $290 is the Amount of the loan, d = 16% = 0.16 is the discount rate and t = 90days = 90/365 = 18/73 is the period.
I = 290 x 0.16 x 18/73 = 11.44
Interest = $11.44
Proceed = Amount - Interest = 290 - 11.44 = $278.56
Your max amount for this is $20. Let's say x represents the number of gallons.
20 ≥ 3.2x
x = 6.25 gallons
If they're asking for integers or whole numbers, you'd round down to 6 because you only have enough money for 6 full gallons. If you rounded up to 7, you wouldn't be able to fill it up completely because then you'd be over your $20.00 budget for gas.
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Step-by-step explanation:
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[Corresponding Sides of similar triangles are proportional.]
