paulhardin12345 paulhardin12345
  • 12-11-2017
  • Mathematics
contestada

How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?

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jdoe0001 jdoe0001
  • 13-11-2017
[tex]\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\to &50000\\ P=\textit{original amount deposited}\to& \$548048\\ r=rate\to 9\%\to \frac{9}{100}\to &0.09\\ t=years \end{cases} \\\\\\ 50000=548048\cdot 0.09t\implies \cfrac{50000}{0.09(548048)}=t\implies 1.014\approx t[/tex]
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papabravo02 papabravo02
  • 16-03-2019

Answer:

The answer is 370 days

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