shy83 shy83
  • 04-08-2017
  • Mathematics
contestada

A deposit of 4,000 at 6.5% for 270 days

Respuesta :

mathmate
mathmate mathmate
  • 05-08-2017
Some institutions use 360 days a year (because then they charge more interest than 365 days).

Assuming the 360 days a year rule, the the daily rate is
6.5% for a year, or 270/360*6.5% for 270 days.
The future amount is then
4000*(1+0.065*270/360)
=$4195  (simple interest).

Answer Link

Otras preguntas

What is 1/3 of 9 if u know please tell me thanks
A dress on sale in a shop is marked at $D. During the discount sale its price is reduced by 15%. Staff are allowed a further 10% reduction on the discounted pr
how did Japan's feudal system impact society?
You purchase a total of 45 shares of stocks from 3 different companies. You purchase twice as many shares of company c stock as you do company a. Company a stoc
A tourist being chased by an angry bear is running in a straight line toward his car at a speed of 4.00 m/s. The car is a distance d away. The bear is 37.2 m
What was the goal of the Americanization movement?
an airplane climbs at a rate of 66.8 feet per minute. It descends at twice the rate that it climbs. Assuming it descends at a constant rate, how many feet will
9 divided by 16 and please explain on how to get the answer
what is 122/11 equivalent to as a decimal??
How to simplify square root of 210?