How many days would it take a $4,500 move-in loan to earn $1,000 ordinary interest at 8% interest rate?

this can be solve using the formula:

f = p ( 1+ in)

where f is the future woth

p is the principal amount

i is the interest rate

n is the number of years

4500 + 1000 = 4500 ( 1 + 0.08n)

solve for n

n = 2.8 years

assume there are 365 days a year

2.8 years ( 365 days /year) = 1014 days

i believe the answer to be 48

step-by-step explanation:

addition

step-by-step explanation: