Q1. Find the exact interest and ordinary interest for each of the following to the nearest cent. Then find the amount by which the ordinary interest is larger.
185,000 at 7.5% for 180 days
29,500 at 11 ¼% for 120 days
52,610 at 8 ½ % for 82 days
Q2. Find the time in each of the following, round to the nearest day.
Principal Rate Interest Time
$36, 000 9% $585
$24,000 11%
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University of Phoenix
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Math 115 Problem Solving
08 Dec 2015