|
Question 1155528: Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan. What annual simple interest rate did Don paid on the loan? (Round your answer to the nearest hundredth of a percent)
Found 3 solutions by mananth, MathTherapy, ikleyn:
Answer by mananth(16949)   (Show Source):
You can put this solution on YOUR website!
Simple Interest = P * R *T
p= 18000
R=?
T = 210/365 years
SI =702.80
702.8 = 18000 *R* 0.58
R= 702.80/(18000*0.58)
R= 0.067 *100 = 6.7 %
Answer by MathTherapy(10801)  (Show Source):
You can put this solution on YOUR website! Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan. What annual simple interest rate did Don paid on the loan? (Round your answer to the nearest hundredth of a percent)
PTR = SI
50(210) * R = 702.8
R, or 
Answer by ikleyn(53742)  (Show Source):
You can put this solution on YOUR website! .
Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan.
What annual simple interest rate did Don paid on the loan?
(Round your answer to the nearest hundredth of a percent)
~~~~~~~~~~~~~~~~~~~~~~~
The assignment requires the answer to the nearest hundredth of a percent.
@mananth failed this request and rounded differently.
See my correct calculations below.
Simple Interest = P * r * t
P = 18000
r = ?
t = 210/365 years
SI =702.80
702.80 = 
r =  = 0.067862963.
Rounded to the nearest hundredth of a percent, this value is r = 6.79%. ANSWER
So, @mananth either does not read the assignment to the end, or his code makes rounding
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.
My conclusion after checking this series of the @mananth solutions is
(1) that his work is not trustworthy,
and
(2) He never worked in engineering environment, where reliability of output is critically important.
Nobody taught him to check, re-check, cross-check and double-check his output.
|
|
|
| |
