Short Answer
In each problem, (1) compute the actual exact interest (365-day year) and (2) estimate the interest by rounding the principal to the nearest hundred dollars. For each estimate, assume that a year has 360 days and use the given suggestion to create a shortcut. Round answers to the nearest cent.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In each problem, (1) compute the actual
Q3: Compute the ordinary interest (360-day year) and
Q4: Devon Gillies is a college student who
Q5: Compute (a) the ordinary interest, (b) the
Q6: Compute (a) the ordinary interest, (b) the
Q7: Compute the ordinary interest (360-day year) and
Q8: Norma Nowak has a hair salon in
Q9: A loan officer approved a $12,000 loan
Q10: Oliver Douglas opened a repair shop for
Q11: Compute (a) the ordinary interest, (b) the