Asked by Janine
11% interest
$186.00 interest paid 140 days
what was the orginal amount
please show calcualtion
$186.00 interest paid 140 days
what was the orginal amount
please show calcualtion
Answers
Answered by
Henry
r = 11% / 1yr = 11% / 365days = 0.0301%/day = 0.0003/day expressed as a decimal.
Int. = r*t*Po = $186,
0.0003*140*Po = 186,
0.042Po = 186,
Po = 186 / 0.042 = $4428.57 = Original
amt.
Int. = r*t*Po = $186,
0.0003*140*Po = 186,
0.042Po = 186,
Po = 186 / 0.042 = $4428.57 = Original
amt.
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