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July 24, 2014

July 24, 2014

Posted by **Scott** on Saturday, March 8, 2008 at 4:50pm.

- simple intrest -
**Ms. Sue**, Saturday, March 8, 2008 at 5:02pmFirst, multiply 0.1175 * 2500 to find the yearly interest. Let that number be represented by x.

Next, figure out how many days there are between Sept. 14 and Jan. 27. Let that number be resented by d.

Then, find the amount she'll owe on a partial year by plugging your numbers into this equation.

Interest = (d/360) * x

If you post your answer, we'll be glad to check it.

- simple intrest -
**Scott**, Saturday, March 8, 2008 at 5:20pmI think the answere is 110.99

- simple intrest -
- simple intrest -
**Scott**, Saturday, March 8, 2008 at 5:16pmI am not understanding this here still. I have figured out that D=136 and the intrest is = 293.75

- simple intrest -
**Ms. Sue**, Saturday, March 8, 2008 at 5:23pmYou're right so far. She had the loan for 136 days. The yearly interest is $293.75.

Now you need to find the percentage of the year that she had the loan.

136 / 360 = 0.375 = 37.5% of the year.

Multiply 0.375 * $293.75 to find the interest she'll owe in January.

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