Respuesta :
Answer:
answer is option c
Step-by-step explanation:
Amount = $9,000
interest rate (r) = 12%
interest = $762.00
time = ?
we know,
[tex]I = \dfrac{PRT}{100}[/tex]
[tex]762 = \dfrac {9000\times 12\times T}{100}[/tex]
t = 0.7056 years
t = 0.7056 × 365 days
t = 257.54 days ≅ 258 days
correct answer is option c.
Answer:
Option b - 246 days.
Step-by-step explanation:
Given : Suppose you take out a loan for $9,000, at 12% ordinary interest. If the amount of interest is $762.00.
To find : What is the time period?
Solution :
We are going to apply interest formula which is given as,
[tex]A=P(1+r)^t[/tex]
Where, I is the amount of interest I=$762
P is the principal value P=$9000
r is the interest rate r=12%=0.12
t is the time period
Amount is A=P+I=9000+762=$9762
Substitute the value in the formula,
[tex]9762=9000(1+0.12)^t[/tex]
[tex]\frac{9762}{9000}=(1.12)^t[/tex]
[tex]1.0846=(1.12)^t[/tex]
Taking log both side,
[tex]\log(1.08)=t\log(1.12)[/tex]
[tex]t=\frac{\log(1.08)}{\log(1.12)}[/tex]
[tex]t=0.679[/tex]
Converting time from year into days,
[tex]t=0.679\times 365\approx246[/tex]
Therefore, Option b is correct.
