Asked by Elia Adele Marcheline on May 10, 2024
Verified
Evaluate the answer correct to the cent:
$100(1+0.06×45365)\$ 100\left(1+0.06 \times \frac{45}{365}\right)$100(1+0.06×36545)
Simple Interest
An interest calculation method where the interest charge is calculated only on the principal amount, without compounding.
Nearest Cent
Rounding a monetary amount to the closest one-hundredth of the currency unit, such as a dollar.
- Review the calculations for simple and compound interest, rounding off to the nearest cent.
Verified Answer
Learning Objectives
- Review the calculations for simple and compound interest, rounding off to the nearest cent.
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