Question

Using the bank and exact method, calculate the interest on capital 10000 at 12% annual nominal interest rate for the period from 15.3. 2016 until 10/10/2016

223

likes
1113 views

Answer to a math question Using the bank and exact method, calculate the interest on capital 10000 at 12% annual nominal interest rate for the period from 15.3. 2016 until 10/10/2016

Expert avatar
Birdie
4.5
53 Answers
To calculate the interest on capital using the bank and exact method, we will use the following formula:

Interest = Capital * Rate * Time

Where:
Capital = $10,000
Rate = 12% (or 0.12 as a decimal)

First, let's calculate the time period in years. The given period is from 15.3.2016 until 10/10/2016.

Using a calendar, we can see that this is a time period of approximately 209 days = 209/365 years (from March 15, 2016, to October 10, 2016).

Next, we can substitute the values into the formula:

Interest = $10,000 * 0.12 * 209/365

Calculating this expression, we get:
Interest = $687.12.

Frequently asked questions (FAQs)
What is the maximum value of the function f(x) = x^2 - 3x + 2 in the interval [-1, 4]?
+
What is the integral of 2x^3 + 5x^2 - 3x + 2?
+
What is the value of f(x) when x = 5, if f(x) is a constant function given by f(x) = c?
+
New questions in Mathematics
A=m/2-t isolate t
find the value of the tangent if it is known that the cos@= 1 2 and the sine is negative. must perform procedures.
The strength of Kefexin oral suspension is 100 mg/ml. Nora has been prescribed cefalexin at a dose of 50 mg/kg/day divided in two single doses. Nora weighs 14 kg. How many milliliters of solution for Nora should be given as a single dose?
A book is between 400 and 450 pages. If we count them 2 at a time there is none left over, if we count them 5 at a time there is none left over and if we count them 7 at a time there are none left over, how many pages does the book have?
2x-y=5 x-y=4
If O(3,-2) is reflected across x = 2. What are the coordinates of O
Let f(x) = x² − 1. Find the equation of the tangent line to the graph of f at the point x0 = 2.
Pedro had 80% of the amount needed to buy a game. Of this amount, you spent 15% on a watch and therefore, you will need to add another R$640.00 to purchase this game. Is the value of the game?
If X1 and X2 are independent standard normal variables, find P(X1^2 + X2^2 > 2.41)
Find the center coordinates and radius of a circle for an equation written as: 3x2 + 3y2 - 6y = —12× + 24
A company made 150,000 in the first year 145,000 in the second 140,000 in the third year successively during the first decade of this company's existence it made a total of
A loan is repaid with payments of $2226 made at the end of each month for 12 years. If interest on the loan is 5.2%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas.
Oi👋🏻 Toque em "Criar Nova Tarefa" para enviar seu problema de matemática. Um dos nossos especialistas começará a trabalhar nisso imediatamente!
To verify that a 1 kg gold bar is actually made of pure gold, a dynamometer is used to record the weight of the bar submerged in water and out of water. a) What would be the value of the weight of the ingot recorded by the dynamometer out of the water? b) What magnitude of thrust does the ingot receive when it is submerged? c) What would the weight of the ingot have to be when it is submerged? Data Pagua = 1000 kg/m³ Pagua= 19300 kg/m³
2 - 6x = -16x + 28
A confidence interval for a population mean has a margin of error of 3.5. a. Determine the length of the confidence interval. b. If the sample mean is 47.8 ​, obtain the confidence interval. a. The length of the confidence interval is?
The following incoming payments show up at a tax inspection: 25 000€ on 19.01.2008, 140 000€ on 27.03.2008 and 19 000€ on a date that which is illegible, and 60 000€ on 15.06.2008. On which date did the payment of the 19 000€ appear, if on 30.06.2008 the money on the account (incl. interest at 4%) is 246 088.89€? Use simple interest and 30E/360 DCC. Solution: 45 days, 15.05.08
The supply of a good registers periodic increases. With each increase in the offer, the total receipts of the bidders increase. Indicate the correct statement: a) demand is elastic b) demand is inelastic c) supply is inelastic d) supply has unit elasticity.
13/25+7/16
A plant found at the bottom of a lake doubles in size every 10 days. Yeah It is known that in 300 days it has covered the entire lake, indicate how many days it will take to cover the entire lake four similar plants.