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

Holsen wants to know the theoretical and experimental probability of rolling a number larger than a 3 on a 6-sided number cube numbered 1 to 6. He rolls the num
On average, 4/20 of the money you spend on a product pays for the packaging. What is this fraction when you cancel it down?
Can anyone just give me the answers?
Prescription Terminology Selecting Abbreviations How does a physician indicate that a generic drug cannot be substituted in a prescription? a. pm b. DAW c. ud e
ahhhhhhhhhhhhhhhhhhhhhhh
Why does Toto distrust the Scarecrow at first?
Which pet is better ? doggie or cat⇒
As it is used in paragraph 5, the word "curb" most closely means – O A edge. B push. C reduce. O Dallow.
Party trays, which cost $14 to make not including labor, are sold for $35.00. If two people work 8 hour shifts making the trays at $7.00 per hour, how many tray
who ever gets this right will get a brainlest and it is not number 2