Asked by Janice
What is the interest owed if the principle is 56,950. at 11 4/5 % interest for 155 days, using the 365 day calendar?
Answers
Answered by
MathMate
Simple interest formula:
Interest
=PRT
=56950*0.118*(155/365)
=2853.74
Compound interest:
depends on the compounding frequency (not available)
Interest
=PRT
=56950*0.118*(155/365)
=2853.74
Compound interest:
depends on the compounding frequency (not available)
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