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Asked by tanisha

. Ludwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method?
11 years ago

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Answered by Henry
I = Po*r*t
I = 8000*(0.11/365)*89 = $214.58
11 years ago
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. Ludwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method?

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