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Expert: - 11/26/2009


Question
1. Find the ordinary interest of 2,100 pesos for 65 days at 5 and   1/4% simple interest.
2. Find the amount at ordinary and exact interest of 6,580 pesos for 180 days and exact interest at 6 and 1/5%.


Answer
Questioner: Tristan
Country: Philippines
Category: Advanced Math
Private: No
Subject: Investment
Question: 1. Find the ordinary interest of 2,100 pesos for 65 days at 5 and   1/4% simple interest.
2. Find the amount at ordinary and exact interest of 6,580 pesos for 180 days and exact interest at 6 and 1/5%.

1. Use I = Prt, with  t = 65/365.

2. You are using jargon I don't understand.  What is 'exact' interest?

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