hello i was wondering if someone could help me with this problem: just paid the bank $19.48 interest at 9.5% for 90 days and now i need to find out the amount borrowed, i set up the formula 19.48 .095*90/360, * the denominator, divided the numerator by .02375 what it comes up with is not the correct answer i need i am missing something can you help? thanks in advance

Question

anonymous · Answer

we back again

anonymous · Answer

just trying to write a formula in excel  to help me so i dont keep pestering you lmao

anonymous · Answer

$$I=P\times r\times n\19.48=P\times0.095\times{90\over360}$$
seems like you got it the other way :)

anonymous · Answer

the answer it comes up with is 820.21

anonymous · Answer

well thats what the book says lol

anonymous · Answer

thats the answer aint it?

anonymous · Answer

its the principle i need to get the answer for, so what am i missing?

anonymous · Answer

thats what the book says my excel says different lol

anonymous · Answer

eh? may be you entered it wrong

anonymous · Answer

my formula is wrong somewhere

anonymous · Answer

finding the principle has been hard for me, dont know y

anonymous · Answer

I think you took the interest 19.48 as your principal!!!!

anonymous · Answer

maybe so, so what should i / numerator by ?

anonymous · Answer

divide / lol

anonymous · Answer

i know i am a pain

anonymous · Answer

$$P=\frac{I}{r\times n}$$

anonymous · Answer

$$P=\large\frac{19.48}{0.095\times\Large{90\over360}}$$

anonymous · Answer

:) 
enjoy.

anonymous · Answer

you are welcome.