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Social Science Clinic => Business => Topic started by: RYAN BANYAN on Jun 6, 2019

Title: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: RYAN BANYAN on Jun 6, 2019

Question 1

Compute the amount of interest on $875.00 at 11.5% p.a. from May 29, 2013 to August 13, 2013.

Question 2

Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.

Title: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: Carissamariew on Jun 6, 2019

Answer 1

P = 875.00; r = 0.115
Time period May 29, 2013, to August 13, 2013 = 225 - 149 = 76 days
I = (875)(0.115) = $20.95

Answer 2

P = 250; r = 0.0825
Time period March 30, 2014, to October 28, 2014 = 212 days
I = (250)(.0825) = $11.98

Title: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: RYAN BANYAN on Jun 6, 2019

Thank you!

Title: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: Carissamariew on Jun 6, 2019

Always glad to help...

Title: Re: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: luimarlowe on Feb 25, 2021

Thank You

Title: Re: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: Aman Sidhu on Sep 24, 2021

Thank-you

Title: Re: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: Grace Freo on Feb 17, 2022

Thank you

Title: Re: Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.
Post by: kaur mehakpreet on Apr 11, 2022

Thankyou