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Nastasia [14]
2 years ago
11

How much simple interest does $4,678.00 earn in 529 days at a rate of 7.3%? Round to the nearest cent.

Mathematics
1 answer:
statuscvo [17]2 years ago
7 0

Answer:

$5,172.93

Step-by-step explanation:

We're gonna use the simple interest formula: P = A(1 + r(t))

P = final amount

A = starting amount (4,678)

r = rate (0.073)

t = years (529/365)

P = 4,678(1 + 0.073(529/365))

P = 5,172.9324

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The question given is incomplete, I googled and got the complete question as below:

You are a waterman daily plying the waters of Chesapeake Bay for blue crabs (Callinectes sapidus), the best-tasting crustacean in the world. Crab populations and commercial catch rates are highly variable, but the fishery is under constant pressure from over-fishing, habitat destruction, and pollution. These days, you tend to pull crab pots containing an average of 2.4 crabs per pot. Given that you are economically challenged as most commercial fishermen are, and have an expensive boat to pay off, you’re always interested in projecting your income for the day. At the end of one day, you calculate that you’ll need 7 legal-sized crabs in your last pot in order to break even for the day. Use these data to address the following questions. Show your work.

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