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
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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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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