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August 20th, 2017, 05:43 AM   #1
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Engineering Economy

Determine the ordinary simple interest on P5000 for 9 months and 10 days if the rate of interest is 12 %.
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August 20th, 2017, 06:16 AM   #2
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Is this a school problem or a practical problem?
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August 20th, 2017, 06:20 AM   #3
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school problem sir
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August 20th, 2017, 07:12 AM   #4
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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?
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August 20th, 2017, 10:05 AM   #5
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You can prorate that
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