document.write( "Question 1166959: If the 4,200 is the interest in investing php 50000 for 4 years 5 months and 23 days, how much is the charged interest rate?
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Algebra.Com's Answer #852408 by ikleyn(52957) $\"\"$ $\"About$

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document.write( "Since the problem does not mention compounding, I will assume that the account is simple interest.\r\n" );
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document.write( "Actually, the months are not standard units to measure time intervals, because some months\r\n" );
document.write( "are 30 days, while other months are 31 day, and even there is the month February,\r\n" );
document.write( "which may have 28 or 29 days.\r\n" );
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document.write( "Since the problem does not point the concrete months, it means that for this problem \r\n" );
document.write( "it does not matter, which months they are.  \r\n" );
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document.write( "So, I will count each month as 30 days.\r\n" );
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document.write( "I also will forget about leap year, which inevitably should be present at this time interval.\r\n" );
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document.write( "So, I will edit this problem as a typical mathematician does.\r\n" );
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document.write( "    +---------------------------------------------+\r\n" );
document.write( "    |     As mathematicians like to joke:         |\r\n" );
document.write( "    |   A telegraph pole is a well-edited pine.   |\r\n" );
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document.write( "So, in this context, 4 years 5 months and 23 days is the same as  4*12*30 + 5*30 + 23 = 1613 days, or\r\n" );
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document.write( "     = 4.480555556 years.\r\n" );
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document.write( "Now I will use the formula for the simple interest \r\n" );
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document.write( "    I = P*r*t.\r\n" );
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document.write( "Here I is the interest, given as  4,200 in this problem;  P is the principal, which is 50,000;\r\n" );
document.write( "r is the unknow rate of interest and t = 4.480555556 years.\r\n" );
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document.write( "Thus, I substitute these values into the formula and get\r\n" );
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document.write( "    r =  = 0.018747675,\r\n" );
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document.write( "which I reasonably round to  r = 0.01875,  or 1.875%.\r\n" );
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document.write( "ANSWER.  In this problem, the interest rate is about 1.875%.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved, with exhausting explanations and mathematical jokes for your better understanding.\r
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\n" ); document.write( "\n" ); document.write( "        In my view, this problem and my solution provide a good example \r
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