Help!!!!!!!!!!!!!!!!
Find the simple interest for each of the following. Round to the nearest cent. A loan of $1,870 at 11% made on October 5 and due January 16 $46.21 $58.85 $58.05 $46.85

Question

Help!!!!!!!!!!!!!!!!
Find the simple interest for each of the following. Round to the nearest cent. A loan of $1,870 at 11% made on October 5 and due January 16 $46.21 $58.85 $58.05 $46.85

cicilybailey14 · Answer

@mathmale

mathmale · Answer

You'll need to estimate or calculate the number of days from Oct. 5 to January 11.

Here you're calculating simple interest.  The formula for that is as follows:

i=Prt, where P=the initial principal, r=the interest rate as a decimal fraction, and t=the number of years.  What fraction of a year is Oct. 5-January 11?

cicilybailey14 · Answer

98 Days...

mathmale · Answer

What is your Principal, P, here?
What is your Interest Rate, r, here (as a decimal fraction)?
What part of a year are 98 days?

mathmale · Answer

Again, the formula for simple interest is  i=Prt.  Please see my earlier comment.