document.write( "Question 1155533: Kristi Yang borrowed $18,000. The term of the loan was 60 days, and the annual simple interest rate was 7.1%. Find the simple interest due on the loan. (Round your answer to the nearest cent.) \n" ); document.write( "
Algebra.Com's Answer #853785 by ikleyn(53742) You can put this solution on YOUR website! . \n" ); document.write( "Kristi Yang borrowed $18,000. The term of the loan was 60 days, and the annual simple interest rate was 7.1%. \n" ); document.write( "Find the simple interest due on the loan. (Round your answer to the nearest cent.) \n" ); document.write( "~~~~~~~~~~~~~~~~~~~~~~~~~~~\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " The assignment requires the answer to the nearest cent.\r \n" ); document.write( "\n" ); document.write( " @mananth failed this request and rounded to the nerest dollar.\r \n" ); document.write( "\n" ); document.write( " See my correct calculations below.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "SI = P * R * t\r \n" ); document.write( "\n" ); document.write( "P = 18000\r \n" ); document.write( "\n" ); document.write( "R = 7.1% = 0.071\r \n" ); document.write( "\n" ); document.write( "T = 60 days = (60/365) years\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Plug values\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "18000 * 0.071 * (60/365) = 210.0822\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Interest = $ 210.08 to the nearest cent. ANSWER\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "So, @mananth either does not read the assignment to the end, or his code makes rounding \n" ); document.write( "based on its own rules that @mananth does not control to the end - and then @mananth does not read/look at the output of his code.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |