Question

how do i round 52200 to the nearest cent

Answer 1

this is the question:Kristi Yang borrowed $10,000. The term of the loan was 60 days, and the annual simple interest rate was 8.7%. Find the simple interest due on the loan. (Round your answer to the nearest cent.)

Answer 2

Since she has the loan for just 60 days, then she has it for 60/365 years. So she pays 60/365 * 8.7% interest. So, to calculate the total interest she needs to pay, you have 60/365 * 0.087 * 10000 this gives an answer of $143.01369863... Round this to the nearest cent gives $143.01

Answer 3

I = Prt

I = interst in dollars
P = price
r = interest rate
t = time in years

I = (10000)(0.087)(t)

Convert 60 days to years.

60 days * (1 year/365 days) = 0.164 year

I = (10000)(0.087)(0.164)

I = $142.68

I believe the nearest "cent" is two decimal places, so that is what I did

Answer 4

yes, 2 decimal places

Answer 5

crap, I typed in the wrong number for the interest

Answer 6

thank you scary door and brinethery it took 143.01 as the answer

Answer 7

Thank you Dockworker

Answer 8

brinethery, you should include the full thing to avoid roundoff error. For example, the 60 days is 0.1643835... of a year. So if you round that off and then use it again to get the final answer, then you'll be introducing unnecessary error. Whereas, in your final calculation you could just use 60/365 instead of 0.164, and it will be more accurate.

Answer 9

lol that's the user name for that person i just copied and pasted it :)

Answer 10

uhh these round up questions are just so confusing to me :(