On May 23, Samantha Best borrowed $4,000 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?

Answer 1

I = PRT

I = 4,000 * 0.13 * 0.4384

Answer 2

$40,000 x 13% x 160 /365 = $2,279.45 the amount of interest on the loan?

Answer 3

that is the wrong answer

Answer 4

4,000x.13x160/365= 227.95