Asked by Carli

A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest):

10 years ago

Answered by Ms. Sue

I = Prt

I = 40,000 * 0.04 * 0.33333

I = 533.33

10 years ago

Answered by Ash

I believe that answer is incorrect. it would likely be $546.67?

9 years ago

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