jayciejehli
contestada

How many days would it take a construction loan of $548,048 to earn$50,000 exact interest at 9% interest rate?

370 days
360 days
365 days
364 days

Respuesta :

I guess you mean simple interest 
I = PRT/100

50000 = 548048 * 9 * t  / 100

t =  50,000 * 100
     -------------------  =   1.013699 years
      548048* 9

multiply this by 365 gives 370 days