Find the principal using Bankers Rule if interest of RM100 was received at 3.5% simple interest rate for 150 days.

Answer 1

I = P*r*T = 100
P*0.035*(150/360) = 100
P =

Answer 2

8.Jessica Noone deposited an inheritance of $15,000.00 in a bank and earned $500.00 in simple banker's interest at a rate of 9.5%. Find the length of time the money was on deposit.

The time of the deposit was days. (Round to the nearest day.)