could someone help me with the formula to find the interest i would have to pay at the rate on a 433 day loan 85000 @11.3/4%

Question

tkhunny · Answer

Interest = Principal * Rate * Time

Principal = 85000
Rate = 11¾% = 11.75% = 0.1175
Time = 433 days = (433/365) Years

Really, just fill in the blanks.

anonymous · Answer

new to algebra never did this when i was at skool

anonymous · Answer

the 433/365 didnt look right when i was attempting it before asking on here

tkhunny · Answer

Fair enough.  Some things, like "I = Prt", you just have to memorize.  This is the fundamental formula for Simple Interest.  It calculates interest directly.  If you want to know the total amount, with the interest, you will have to add or subtract as appropriate.

Hang in there.  You'll get it.

tkhunny · Answer

It does help to show your own efforts, rather than just posting a cold problem.  We have only volunteers around here.  It is VERY beneficial for their time and effort to have a better clue how to help you.

Welcome!