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anonymous
 5 years ago
My name is John. I have never been here before.
I am having trouble understanding a sample problem provided in my text. It explains calculating the Rate in a simple interest problem.
anonymous
 5 years ago
My name is John. I have never been here before. I am having trouble understanding a sample problem provided in my text. It explains calculating the Rate in a simple interest problem.

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I attached an image of my issue

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0my first issue is... isn't the formula upside down? my second issue is... where are the decimal places coming from?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I thought it was Interest over Principal X Time And I thought 1750 X 5 was 8,750

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok, first of all, you should understand how the simple interest formula works. it goes like this: I=P*R*T when I is the interest you get after you inverst amount P at a rate R (rate can be found by dividing the percentage by 100) for time T in years. so..

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0you can rearange the formula, to find rate like this: I=P*R*T R=I/(PT)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0because you divide both sides of I=PRT by PT

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I get it but it reads R=(PT)/I

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0or am i just not inturpriting it right?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0the formula is wrong in your example it should by R=I/(PT)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0and what about the 1750 X 5 = 87.50?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0the rest is correct, it is just that the formula is wrong, but the final answer is correct

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0i realize the final answer was correct by using an online calculator :) AND I think they worked it out using the correct formula. I just don't understand some if there math

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I don't understand how 1750 * 2 1/2 = 87.5

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0oops, i ment 3500 * 2 1/2 = 87.5

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0well, the way these guys wrote it in that paper is completely nonsensical, so just delete it because the method of solving there is wrong and confusing

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0you should get some trustworthy questions, not stuff like that

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0simple interest is calculated at: I = Prt

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Ok, thats what I needed to here :) This was provided to me by an online government career development program. Where is your "Thumbs up" button?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0amistre, I already covered that abouve

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0...but..but... it so far up there......

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0by chance do you have a short explanation why this formula assumes 360 days in a year instead of 365?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0accountants cant count? :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0i used the word formula for lack of better term maybe i should have said concept

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0it might have something to do with the Jewish culture, they started alot of this interest bearing stuff and they had 360 day years...

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0but the simple interest formula assumes 365, I am certain

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0they have provided me with more nonsense I assume :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0sure they have, that example you showed was enough to prove that those guys are MORONS, who ever they are

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0they translated 36 days as 36/360 for this formula

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0if you are interested in learning maths fast, and in a fun way, I know a great site

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0im interested in relearning math. I quit when I got to calculus years ago because I had poor trig skills

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0http://www.khanacademy.org this is the site. IT IS 100% free, I LOVE IT. It covers everything from calculus to percentages to biology

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0you will get an idea how to use it

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0here is the list of topics, when you click on topics, you are directed to videos

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0and above, the is a button practics, if you click on it you will be given some questions

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I love that its free. I paid $600 for this nonsense schooling :P

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0well, just watch the intro video at the homepage of http://www.khanacademy.org/#browse

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0Simple interest normally uses a 360day year for simplicity, i.e., 30 day months. Interest calculated this way earns a little more than if using a 365day year. Here is an example for a 90 day loan ... from google

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0yea, but it depends on a problem and scenario, believe me, my text book uses 365

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I read banks use 360 and the federal reserve uses 365

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0http://www.khanacademy.org/ this video intro is like 20 min, but it is cool, you will understand how the site works, it also has bill gate at the end :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0So, again, where are these thumbs up fan buttons?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0just click"become a fan" next to the screen name its in blue

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it is the blue "Become a fan" button

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Im gussing my adblocker is hiding it

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0thats because you only have one post/question created, if you ask another question, the fan system should be unlocked for you

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0but it is not a big deal anyways =D just a game :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0is it inline on this page, or supposed to be in the info that appears on hover?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Oh ok, odd says im a lifesaver?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0inline, and on the info, but as i have said, you have to have atleast a few questions. You are a lifesaver because I faned you :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0today, yours should say sanity saver

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0well, just use the http://www.khanacademy.org site to learn stuff, using those videos I learned calculus derivatives like in 2 hours

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it is simply cool, MILLIONS use it, just watch the intro vid, and you will be hooked

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0all i remember about calculus is that they asked to find the rate of change between point A and point A, and when it wasn't 0 I was throughly confused :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I will defiantly check that site out, and will likely return here with questions. I will do my best to fan you when i'm allowed to. Thanks for your time and patience! See ya soon
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