I would do :
3200(.06)(60/365) = 31.56
... unless "ordinary interest method" means something different in the US than here in Canada where I am.
Calculate the amount of interest on a loan of $3,200 at 6% interest for 60 days using the
ordinary interest method.
A. $3.16 C. $32.00
B. $31.56 D. $384.00
3200x6% divided by 60=32.00
is this correct
1 answer