Use the formula I = P(R D/365) to find the exact interest on $100 for 30

Question:

Use the formula I = P(R × D/365) to find the exact interest on $100 for 30 days and 7.50%. D is the exact number of days.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

See More Books

Question Posted: Mar 11, 2016 01:48 AM

See More Questions

Find the exact interest on $1,000 for 60 days at 5.3% annual interest rate.
The Commonwealth Banking Corporation issues a national credit card through its various bank branches in five southeastern states. The bank credit card business is highly competitive and interest...
Which of the following is true about the rental of real estate? a. Depreciation and maintenance expenses for an apartment complex are deductible. b. A vacation home is a home that is rented for 15...
What is the output of the following application? A. 5,LONG B. 6,LONG C. 5,null D. 6,null E. The code does not compile. F. The code compiles but throws an exception at runtime. package fly; public...
Explain a supply chain linkage and give an example.
(a) Find the new marginal-cost function. (b) Find the new equilibrium quantities. (Use fractions.) (c) Find the new equilibrium prices. (d) Verify that the second-order sufficient condition is met.
As long as a high airspeed is maintained, the aircraft cannot stall while maneuvering. (True/False)
As the accountant for Veneskey & Sons, you have been hired to prepare the payroll and everything that goes along with it for OlFashion Industries which has 4 employees. Their necessary payroll...
1. Within 5.0 s of lift-off, a space shuttle reaches an altitude of 525 m, uniformly accelerating during the entire time. (a) What is its acceleration? (b) At what speed is the shuttle travelling...
Eric Brown is responsible for upgrading the wireless network for his employer. He has identified seven possible locations to install new nodes for the network. Each node can provide service to...
When solving problems, one should devise a method to estimate the solution. Describe a strategy for estimating the interest in the first example of Section 11-1.
The ordinary interest using exact time (banker's rule) will always be higher than exact interest using exact time. Explain why this is true.
The apparatus shown here has two gas-filled containers and one empty container, all attached to a hollow horizontal tube. When the valves are opened and the gases are allowed to mix at constant...
Explain the following on Wireless Networks: Identify the benefits of wireless networks. Describe the different wireless network categories. Identify the challenges of wireless networks. Explain...
How visual ethnography research can work TOGETHER with STEM research?
Synthesis is the act of creating something new from multiple existing entities. Synthesis of research, then, is creating a new idea from existing ideas. Synthesis of research is not a single innate...
How can you determine if a program is being delivered within budgetary frameworks?
If McDonalds wants to introduce a new, healthy salad on its menu in Canada, how could the 6 external forces potentially influence McDonalds efforts?
A curve has equation y = e 3x /sin3x for 0 < x < /2. Find the exact value for the x-coordinate of the stationary point of this curve and determine the nature of this point.
The Heese Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Heeses purchased and used 101,000 pounds of potatoes at a price of $ 0.70 per...
If the holding-period return on a money market mutual fund for the most recent seven days is 0.097%, what current (simple) and effective annualized yields will be quoted for the fund in the financial...
The current (simple annualized) yield on a money market mutual fund, based on the return for the most recent seven days, is 4.12%. What effective (annualized) yield will be reported for the fund?
The current (simple annualized) yield, based on the holding-period return for the most recent seven days, is reported for a money market mutual fund as 4.54%. What is the funds corresponding...
Figure out, salaries, net income, add net income with retained earnings and totally stockholder equity , ?accounts payable and total liabilities and stockholders equity RILEY, INCORPORATED Statement...
Determine the material inventory balance at the end of may? Received Issued Receiving Received Materials Report Number Received Quantity Unit Price Requisition Number Issued Quantity Issued Balance...
During October 2 0 2 3 , Fern Field Farms, Inc. received $ 1 0 , 0 0 0 from customers in exchange for fruit and vegetables. During the same month, the company paid $ 2 , 0 0 0 to employees, $ 5 0 0...

Use the formula I = P(R D/365) to find the exact interest on $100 for 30

Question:

Step by Step Answer:

I 100R D 365 100007...View the full answer

Business Math

Students also viewed these Finance questions