Annies cafe borrows $9300 at 8% for 50 days. find the total amount that must be repaid after the 50 days. (Use a 365 day year)

Answer 1

Interest
= principal * annual rate * #days/365
= $9300*0.08*50/365
= $101.92
Principal+interest
= $9300+$101.92
= $9401.92

Check my work.