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Using the simple interest formula I = Prt, determine the deposit that must be made to earn $48

Accounting Dec 02, 2020

Using the simple interest formula I = Prt, determine the deposit that must be made to earn $48.76 in 80 days at 7.06% p.a. The deposit required is $ 3151. 10 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Mac's credit card statement included $1496.00 in cash advances and $106.67 in interest charges. The interest rate on the statement was 105% p.a. For how many days was Mac charged interest? The number of days required is (Round up the final answer to the nearest day as needed. Round all intermediate values to six decimal places as needed.)

On March 28, 2017, Toys Or More borrowed money with a promise to pay $23,490.35 on April 27, 2017. This loan included interest at 6.4%. How much money did Toys Or More borrow on March 28, 2017? Toys Or More borrowed $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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