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We can loan up to $500 to Warren occupants, in view of qualifying elements. On the off chance that endorsed, your credit will be expected on your next payday that falls in the vicinity of 10 and 31 days after you get your advance. Nitty gritty data with respect to expenses and reimbursement is accessible on our Rates and Terms page. As you consider whether an advance is proper for your prompt needs, you ought to likewise investigate other subsidizing alternatives. A payday credit is a genuine budgetary duty, and not an answer for long haul issues. Getting from a companion of relative may be a superior alternative.
1. Jimmy Smith plans to invest $4780. Find the interest rate required for the fund to grow to $5138.50 in 15 months. 2. Darrell Hartford lends $5500 at a rate of 5.5%. Find how long it will take for his investment to earn $205 in interest. (Round to the nearest day) SOLVE, NUMBER THE PROBLEM, & GIVE A CLEAR ANSWER! thanx and I will vote the best answerer :)
1] Principal P = 4780 Rate = R Time T = 15 months = 1.25 year Amount after 15 months A = 5138.50 Interest I = A - P = 5138.50 - 4780 = 358.50 I = PRT/100 R = 100 * I / PT = 35850 / (4780*1.25) = 6 % annual 2] P = 5500 R = 5.5 % annual T = ? I = 205 I = PRT/100 T = I * 100 / pennsylvania = 20500 / 5500*5.5 = 0.677 year = 0.677*365 = 247 days approximately
I am assuming that these are simple interest and not compound interest questions. Interest = Principal * rate * time I = Prt total Amount = Principal + Interest A = P + I A = P + Prt A = P(1 + rt) 5138.5 = 4780(1 + r * 15/12) 1.075 = 1 + 1.25r .075 = 1.25r .06 = r 6% I = Prt 205 = 5500 * .055 * t 205 = 302.5t (205 / 302.5) years = t 365(205 / 302.5) days = t 247 days rounded = t