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?
Answers
Answered by
Henry
I = Po*r*t
I = 8000*(0.11/365)*89 = $214.58
I = 8000*(0.11/365)*89 = $214.58
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