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There are a few different ways to interpret this question.
1. you meant 19% is the annual interest rate and you want to know how much it would cost to borrow 976.55 pounds for 182 days with interest computed on the day that you pay the bill using simple interest. The answer is then:
Interest*Principle*days/days-in-year=92.51

2. same as above except the interest is calculated daily.=97.01

3. you could also have had the interest calculated weekly or monthly and gotten different answers.

4. You might also have been saying that the interest was 19 pennies per pound and you wanted to know what the annual interest rate is.
Simple interest would be calculated by
interest=pennies*days-in-year/days=about 38%per year

2007-02-07 03:04:00 · answer #1 · answered by anonimous 6 · 1 0

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