Relationship between interest, rate and time

Anonymous

Question Description

the interest formula shows how interest, rate, and time are related. it gives you a way of finding one of these values if the other three values are known. even though you try to be careful in your calculations, there will always be that occasion when you make an error and end up with an incorrect answer. you can avoid such errors by first predicting what a reasonable answer might be by estimating. as an example, if you have a 11.2% interest, you could use 11% to estimate what the correct result would be.

search the internet to find an application of simple interest that you find interesting, that you encounter on a daily basis or that you find in your profession.

a. how could you avoid an error by using a pre-estimation? present this application to the class and explain why you choose the example.

b. in what ways do you use estimating in your everyday life?

include the url for the site you used. do not copy the text in the site verbatim. you should summarize your findings.

This question has not been answered.

Create a free account to get help with this and any other question!

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors