close
    1. Home
      2. ›
    2. Uncategorized
      3. ›
    3. Given interest of $11,900 at 6 percent for 50 days (ordinary interest), one can calculate the principal as
    Given interest of $11,900 at 6 percent for 50 days (ordinary interest), one can calculate the principal as

    a. $1,418,000.70
    b. $4,128,000.70
    c. $1,428,010.70
    d. $1,420.70
    e. None of thes

    Answer this
    0  Views: 4970 Answers: 2 Posted: 13 years ago
    Comment this question

      2 Answers

      $1,428,000 is the answer I came up with. 
      I divided the $11,900 by 50 to determine how much was earned per day.  $238.
      I multiplied that by 360 to determine how much interest would be earned in one year.  $85,680
      I then divided that answer by .06 (6%) to find the principal amount invested. $1,428,000.

      Reversing the process:  $1,428,000 X 6%  DIVIDED BY 360  X 50

       

      13 years ago. Rating: 1
      Comment this answer

        Bob/PKB

        I'm real sure this is the answer I came up with. Whether it is correct for the question or not, I'm not positive.
        commented 13 years ago

         

        13 years ago. Rating: 1
        Comment this answer



          Did this answer your question? If not, then ask a new question.

          Top contributors in Uncategorized category

           
          ROMOS
          Answers: 18061 / Questions: 154
          Karma: 1102K
           
          Colleen
          Answers: 47269 / Questions: 115
          Karma: 953K
           
          country bumpkin
          Answers: 11322 / Questions: 160
          Karma: 838K
           
          Benthere
          Answers: 2392 / Questions: 30
          Karma: 760K
          > Top contributors chart

          Unanswered Questions

          Idiom Metaphor
          Answers: 0 Views: 2 Rating: 0
          DEBET - LINK VÀO NHÀ CÁI DEBET CHÍNH THỨC MỚI NHẤT 2025
          Answers: 0 Views: 5 Rating: 0
          DEBET - LINK VÀO NHÀ CÁI DEBET CHÍNH THỨC MỚI NHẤT 2025
          Answers: 0 Views: 3 Rating: 0
          DEBET - LINK VÀO NHÀ CÁI DEBET CHÍNH THỨC MỚI NHẤT 2025
          Answers: 0 Views: 4 Rating: 0
          Nguyễn Hương Giang SV388
          Answers: 0 Views: 5 Rating: 0
          Chiêm Tài Mobile
          Answers: 0 Views: 5 Rating: 0
          Danh sách game bài đổi thưởng hot nhất Việt Nam 2025
          Answers: 0 Views: 7 Rating: 0
          bk8conet
          Answers: 0 Views: 8 Rating: 0
          > More questions...
          489247
          questions
          725298
          answers
          821741
          users