financial mathematics

Qn 1. The easy loan company has a finance charge of 0.089% per day on out standing balances.What is the effective rate?

Qn 2. Seven days after Jay's company borrowed R10,000,000 interest to the amount of R37,876,71 had to be paid. The simple interest rate equals?

come on rita... this simple interest rate questions... how are you gonna pass this class if you start aksing for help this early in the course??

at least give it a chance

I have alread done the question ijust want to find out if i did it the right way so if you think you know better why don't you show me what you have got

hahahaha Ilike your style! How did you do it?

2 = 3,78%

Q1 : Effective rate = simple rate + financial charge

well Martin i sh'd be asking you the same question

If you borrow 10.000.000 K and have to pay 37.876,71 in total interest rate, assuming you close the account after seven days, you have paid 37.876,71/10.000.000 * 100 =3,78% in interest single rate

if they ask for the rent per day, the answer will be differently

simple intrest= principal value +innrest

s= p(1+rt)


s=p(1+jm/m)tm

A bathroom has dimensions of 12 feet by 7 feet and has 8 foot high walls. Phyllis wants to tile the floor with 1 foot square tiles (12"x12") and paint the "walls only" with a textured paint that covers 100 suare feet per gallon. Each tile costs $2.49 and each gallon of the textured paint costs $27.50. Calculate the nummber of tiles needed to cover the floor area. Calculate the total cost of the tiles. Determine th lateral area.(Wall area) Determine the total cost of the paint needed. Approximately, how much will this bathroom project cost Phyllis?

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