Question
she borrowed 32,000 at 3.5% on december 26, 2012, and paid it off February 21, 2014. how much did she pay in intrest?
Answers
Henry
T = 365 + 57 = 422 Days.
r = (3.5%/365)/100% = 9.58904*10^-5 =
Daily % rate expressed as a decimal.
I = Po*r*T
I= 32000*0.00009589*422 = $1294.90
r = (3.5%/365)/100% = 9.58904*10^-5 =
Daily % rate expressed as a decimal.
I = Po*r*T
I= 32000*0.00009589*422 = $1294.90