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

HELP QUICK ILL GIVE BRAINLIEST <3 ​
Give two examples of each 1) Young fold mountain 2) Old fold mountain 3) Plateaus
What is 4/5 x 3 1/8 in simplest form
List 5 key important events/details from Napoleon's life and time as a leader in France​
TWO IDENTICAL TRUCK ARE TTRAVELING IN THE SAME AREA. ONE TRUCK IS TRAVELING AT 8MPH, THE OTHER AR 4MPH. THE TRUCK TRAVELING AT 4MPH WILL BE CAPABLE AT BRAKING A
You hear this clip on the TV: “Testimony was given by the defense today in the case of State v. Justin B. Goode.” What part of the trial process does this descr
What’s is the inequality
Solve the literal equation for y. 4x - 2y = 10
What might a robot in the nurse's office do in the future
write 0.0059 in scientific notation