anonymous
  • anonymous
How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?
Mathematics
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anonymous
  • anonymous
How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?
Mathematics
chestercat
  • chestercat
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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tkhunny
  • tkhunny
Please define "Exact Interest".
anonymous
  • anonymous
Exact interest= Principle*Rate*Time/365 I just need help setting up the equation and then walk through it :)
tkhunny
  • tkhunny
You already have the equation. Fill in the blanks. Principle = 548048 Exact Interest = $50000 Rate = 9% Substitute and demonstrate your best algebra.

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anonymous
  • anonymous
$50,000= $548,048*0.09*t $50,000=$49,324.32t 1.01=t Is that right?
anonymous
  • anonymous
How do you find the number of days though?
anonymous
  • anonymous
Here's the answers- 370 days 364 days 360 days 365 days
anonymous
  • anonymous
I know I have no clue
tkhunny
  • tkhunny
Use your best algebra skills?

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