Question

On May 23, Samantha Best borrowed $40,000 from the Tri City Credit Union at 13% for 160 days. The credit union uses the exact interest method. What was the amount of interest on the loan? (round to the nearest hundredth) (Points : 2)

Answer 1

I = PRT

I = 40,000 * 0.13 * 0.4384

I =

Answer 2

$2,279.45