Question

a loan for $2000 with a simple interest rate of 15% was made on September 29th and was due November 30th I have to find the ordinary interest rate and don't know how I know there are 62 days between those two dates with just two months and one day I don't know the rest

Answer 1

15%of 2000 is 300

Answer 2

thank you that much I know I just don't know how much to ordinary interest is

Answer 3

If the loan is for 62 days, then you want just 62/360 of the 15% for interest, since it's 15% for a whole year.

(assuming the 360-day year)