Asked by Tiffany

Exact interest method (365 days) and ordinary interest method (360 days) for $450 loan at 12.9% interest rate 220 days.

Answers

Answered by Reiny
only difference would be in the time fraction for I = PRT

220/365 in the first case, and 220/360 in the second.

(I assume my Canadian and the US methods are the same)
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions