Asked by Hussein
A loan of $1,000 was paid off on Feb 18th and had simple interest of $37.07 due at 11%. On what date was the money borrowed?
Answers
Answered by
oobleck
If n days passed, then
1000 * 0.11/365 * n = 37.07
so now find n and thus the date.
1000 * 0.11/365 * n = 37.07
so now find n and thus the date.
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