Question

Interest on $5,255 at 12% for 30 days (use ordinary interest) is

Answer 1

do you remember the forumla

Answer 2

i=prt?

Answer 3

Yes

Answer 4

I = (P)(r)(T)

Answer 5

do you know which value is which?

Answer 6

principle is 5255?
rate= 12%
time = 30 days
?

Answer 7

correct but remember you cant use % so .12, but alta T is meaasured in years
so what is 1 month out of a year

Answer 8

so 1/12 ? X.12 ?

Answer 9

(5255)(.12)(1/12) prt

Answer 10

THANK YOU !

Answer 11

what if it would have been 50 days instead of 30?

Answer 12

1.6/12 i beleive since 20/30(a month) is 60%

Answer 13

630.60

Answer 14

where did you get 630.60?

Answer 15

? so confused lol =(

Answer 16

thats how much you will have to pay

Answer 17

you cant just give answers..
what formula did you use

Answer 18

5255*0.12*1=

Answer 19

P is the principal amount, $5255.00.
r is the interest rate, 12% per month, or in decimal form, 12/100=0.12.
So, t is 1....month time periods.
To find the simple interest, we multiply 5255 × 0.12 × 1 to get that:

The interest is: $630.60

Answer 20

no he needs 50 days

Answer 21

oh hold on

Answer 22

1 month and .60 of a month

Answer 23

over 12

Answer 24

1008.96

Answer 25

@lugerm

Answer 26

5,255 is the entire amount/investment (or 100% of it).
When you add 12% of the sum, you are really taking 12/100th of the sum. So, 12% of that would be; 5,255×12÷100 (which is =630.6). And that is daily interest once, but for 30 days, that would be 30×630.6

Answer 27

THis is on an assumption that 12% is a daily interest, with a length of interest charge period of 30 days.