Explanation Given: The principal P is $300. The future value A is $378.59. The time period ‘ t ’ is 14 days. That is, 14 365 = 0.0383 . Formula used: Formula for simple interest is I = P r t . Calculation: First calculate the interest earned as follows, I = A − P = 378.59 − 300 = 78

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Chapter 5.1, Problem 53E

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To find: The rate of interest for the given data.

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Chapter 5.1, Problem 52E

Chapter 5.1, Problem 54E

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EBK FINITE MATHEMATICS AND CALCULUS WIT

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The rate of interest for the given data.

Solution Summary: The author explains the interest rate for the given data. The principal P is 300, the future value A is 378.59, and the time period is 14 days.

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To find: The rate of interest for the given data.

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Chapter 5 Solutions