Answered: Determine the simple interest. (Assume…

Determine the simple interest. (Assume 360 days in a year.) Question content area bottom Part 1 The simple interest on $520 at 0.041% per day for 6 months is

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

See similar textbooks

Question content area bottom

Part 1

The simple interest on

$520

0.041%

per day for

months is

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Problem statement

VIEW

Step 2: Solution

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

You borrow 25500 DHS from your brother and promise to pay back 30000 DHS in twelve (12) months. What simple interest rate will you pay? Identify the Future Value amount Identify the Principal amount DHS Calculate the Rate (as a percentage) number no numbers behind the point) DHS Identify the Time (as used in the equation for calculation) years % (Round answer to whole
Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $60,000 17 9. years %24
The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal Rate Compounded Time $90,000 3.5% daily 15 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.
Find the amount (in $) of interest and the maturity value of the loans. Use the formula MV = P+ I to find the maturity value. Principal Rate (%) Time Interest Maturity Value 11 $97,000 years $ Need Help? Read It
Calculate the amount of simple interest earned. $1,000 at 8% for 3 years. A $80 B E $3,000 $240 $2,400 $4,800
Jessica invests $250 each quarter in an ordinary annuity with a 5% interest rate compounded quarterly. Determine the accumulated amount in Jessica's annuity after 25 years. Question content area bottom Part 1 The accumulated amount is $enter your response here. (Round to the nearest cent as needed.
Find the simple interest. (The rate is an annual rate unless otherwise noted. Assume 360 days in a year.) p=$23,500, r- 2%, t=4 years ⒸA. $188 OB. $2,937.5 OC. $1,880 D. $11.750
The principal represents an amount of money deposited in a Principal Rate savings account subject to compound interest at the given rate. $10,000 4% A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. Click the icon to view some finance formulas. Can A. The amount of money in the account after 3 years is $ (Round to the nearest hundredth as needed.) B. The amount of interest earned is $. (Round to the nearest hundredth as needed.) Compounded quarterly Time 3 years
type out answer if possible please or written on paper is fine
Please do not give solution in image format thanku Harper took out a $27,000 loan to pay for her home renovation. She will not make a payment for 4 years and there is a 10% interest rate. How much will be owed in 4 years with monthly compounding? Round your answer to the nearest cent. Do NOT round until your final answer.