anonymous
  • anonymous
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.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
I attached an image of my issue
1 Attachment
anonymous
  • anonymous
my first issue is... isn't the formula upside down? my second issue is... where are the decimal places coming from?
anonymous
  • anonymous
I thought it was Interest over Principal X Time And I thought 1750 X 5 was 8,750

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anonymous
  • anonymous
ok, 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
  • anonymous
you can rearange the formula, to find rate like this: I=P*R*T R=I/(PT)
anonymous
  • anonymous
because you divide both sides of I=PRT by PT
anonymous
  • anonymous
get it?
anonymous
  • anonymous
I get it but it reads R=(PT)/I
anonymous
  • anonymous
or am i just not inturpriting it right?
anonymous
  • anonymous
the formula is wrong in your example it should by R=I/(PT)
anonymous
  • anonymous
and what about the 1750 X 5 = 87.50?
anonymous
  • anonymous
the rest is correct, it is just that the formula is wrong, but the final answer is correct
anonymous
  • anonymous
i 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
  • anonymous
I don't understand how 1750 * 2 1/2 = 87.5
anonymous
  • anonymous
oops, i ment 3500 * 2 1/2 = 87.5
anonymous
  • anonymous
well, 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
  • anonymous
you should get some trustworthy questions, not stuff like that
amistre64
  • amistre64
simple interest is calculated at: I = Prt
anonymous
  • anonymous
Ok, 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
  • anonymous
amistre, I already covered that abouve
amistre64
  • amistre64
...but..but... it so far up there......
anonymous
  • anonymous
it is near my name
anonymous
  • anonymous
=D LOL
anonymous
  • anonymous
by chance do you have a short explanation why this formula assumes 360 days in a year instead of 365?
anonymous
  • anonymous
it does not
amistre64
  • amistre64
accountants cant count? :)
anonymous
  • anonymous
i used the word formula for lack of better term maybe i should have said concept
amistre64
  • amistre64
it might have something to do with the Jewish culture, they started alot of this interest bearing stuff and they had 360 day years...
anonymous
  • anonymous
but the simple interest formula assumes 365, I am certain
anonymous
  • anonymous
they have provided me with more nonsense I assume :)
anonymous
  • anonymous
sure they have, that example you showed was enough to prove that those guys are MORONS, who ever they are
anonymous
  • anonymous
they translated 36 days as 36/360 for this formula
anonymous
  • anonymous
if you are interested in learning maths fast, and in a fun way, I know a great site
anonymous
  • anonymous
im interested in relearning math. I quit when I got to calculus years ago because I had poor trig skills
anonymous
  • anonymous
http://www.khanacademy.org this is the site. IT IS 100% free, I LOVE IT. It covers everything from calculus to percentages to biology
anonymous
  • anonymous
WATCH the intro vid
anonymous
  • anonymous
you will get an idea how to use it
anonymous
  • anonymous
http://www.khanacademy.org/#browse
anonymous
  • anonymous
here is the list of topics, when you click on topics, you are directed to videos
anonymous
  • anonymous
and above, the is a button practics, if you click on it you will be given some questions
anonymous
  • anonymous
I love that its free. I paid $600 for this nonsense schooling :P
anonymous
  • anonymous
well, just watch the intro video at the homepage of http://www.khanacademy.org/#browse
amistre64
  • amistre64
Simple interest normally uses a 360-day year for simplicity, i.e., 30 day months. Interest calculated this way earns a little more than if using a 365-day year. Here is an example for a 90 day loan ... from google
anonymous
  • anonymous
yea, but it depends on a problem and scenario, believe me, my text book uses 365
anonymous
  • anonymous
I read banks use 360 and the federal reserve uses 365
anonymous
  • anonymous
http://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
  • anonymous
So, again, where are these thumbs up fan buttons?
amistre64
  • amistre64
just click"become a fan" next to the screen name its in blue
anonymous
  • anonymous
it is the blue "Become a fan" button
anonymous
  • anonymous
do you see it?
anonymous
  • anonymous
Im gussing my adblocker is hiding it
anonymous
  • anonymous
thats because you only have one post/question created, if you ask another question, the fan system should be unlocked for you
anonymous
  • anonymous
but it is not a big deal anyways =D just a game :)
anonymous
  • anonymous
is it inline on this page, or supposed to be in the info that appears on hover?
anonymous
  • anonymous
Oh ok, odd says im a lifesaver?
anonymous
  • anonymous
inline, 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
  • anonymous
today, yours should say sanity saver
anonymous
  • anonymous
well, just use the http://www.khanacademy.org site to learn stuff, using those videos I learned calculus derivatives like in 2 hours
anonymous
  • anonymous
it is simply cool, MILLIONS use it, just watch the intro vid, and you will be hooked
anonymous
  • anonymous
all 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
  • anonymous
I 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
anonymous
  • anonymous
http://www.khanacademy.org/#Calculus

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