Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Question

Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Edition 12ISBN: 978-0132605540

Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Edition 12ISBN: 978-0132605540

Exercise 120

Find the principal in the following. Round to the nearest cent. (See Example.)
Finding Principal Given Interest in Days
Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560.
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$
Quick TIP
Remember that time must be in years or fraction of a year.
SOLUTION
Write the rate as.10, the time as
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$ and then use the formula for principal.
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$
The principal is $104,000.
Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$ year. The interest should be, and is, $780.
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$
The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$
$Find the principal in the following. Round to the nearest cent. (See Example.) Finding Principal Given Interest in Days Gilbert Construction Company borrows funds at 10, for 54 days to finish building a home. Find the principal that results in interest of $1560. Quick TIP Remember that time must be in years or fraction of a year. SOLUTION Write the rate as.10, the time as and then use the formula for principal. The principal is $104,000. Check the answer using I = PRT. The principal is $104,000, the rate is 10%, and the time is year. The interest should be, and is, $780. The calculator approach to finding the principal uses parentheses so that the numerator is divided by the entire denominator.$

Explanation

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