Asked by Lauren Chavis on Apr 29, 2024
Verified
Evaluate the following accurate to the nearest cent:
$92(1+0.095×112365)\$ 92\left(1+0.095 \times \frac{112}{365}\right)$92(1+0.095×365112)
Financial Calculation
The process of determining financial figures, often involving interest, cash flows, investments, margins, and returns analysis.
Percentage
A part or portion of a whole, expressed as a fraction of 100, used to quantify relative differences or changes.
Daily Interest
The interest amount calculated on the principal amount on a daily basis.
- Ascertain percentages and their application in mathematics for finance.
- Undertake exact arithmetic processes with fractions and decimals, rounding accurately to the nearest cent.
Verified Answer
Learning Objectives
- Ascertain percentages and their application in mathematics for finance.
- Undertake exact arithmetic processes with fractions and decimals, rounding accurately to the nearest cent.
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