
Economics Economics Forum  Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance 
 LinkBack  Thread Tools  Display Modes 
August 20th, 2017, 04:43 AM  #1 
Newbie Joined: Aug 2017 From: Davao Posts: 9 Thanks: 0  Engineering Economy
Determine the ordinary simple interest on P5000 for 9 months and 10 days if the rate of interest is 12 %.

August 20th, 2017, 05:16 AM  #2 
Senior Member Joined: May 2016 From: USA Posts: 1,148 Thanks: 479 
Is this a school problem or a practical problem?

August 20th, 2017, 05:20 AM  #3 
Newbie Joined: Aug 2017 From: Davao Posts: 9 Thanks: 0 
school problem sir

August 20th, 2017, 06:12 AM  #4 
Senior Member Joined: May 2016 From: USA Posts: 1,148 Thanks: 479 
OK. You should have been given a formula relating simple interest due, time, and principal. Were you? If so what is it? What is a little tricky in this problem is that you have been given an interest rate for years and a time period not measured in years. What might we do about that? 
August 20th, 2017, 09:05 AM  #5 
Member Joined: Jan 2017 From: California Posts: 80 Thanks: 8 
You can prorate that


Tags 
economy, engineering 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
Engineering math  MMath  Career Guidance  13  May 16th, 2016 06:38 AM 
Ground engineering  MIchaelHuff  Physics  0  March 26th, 2015 03:38 AM 
Engineering to Math  akku8803  Academic Guidance  4  September 3rd, 2014 02:01 AM 
Has anyone ever modelled the Global Economy?  redmotion  Economics  1  November 12th, 2013 08:56 AM 
Engineering Mathematics  johnny  Economics  2  October 20th, 2007 07:57 PM 