document.write( "Question 970240: Will someone solve and explain this question:\r
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Algebra.Com's Answer #592882 by AnlytcPhil(1807) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "P=9000\r\n" );
document.write( "R=0.02\r\n" );
document.write( "N=360   (banks use 360 days a year, because they got started before\r\n" );
document.write( "         calculators or computers were invented.  It was easier to\r\n" );
document.write( "         do arithmetic by hand using 360 than 365, and they've never\r\n" );
document.write( "         changed)\r\n" );
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document.write( "T=3/360 (3 days is 3/360th of a year)\r\n" );
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document.write( "Formula:\r\n" );
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document.write( "Edwin

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