Raimo borrowed $760 from Chris on October 10 and agreed to repay the debt with simple interest at the rate of 4.4% on May 11.


How much interest was owed on May 11? Assume that February has 28 days. (Round your answer to the nearest cent.)

4 answers

Check: I counted 213 days.

I = Po*r*t = 760*(0.04/365)*213 =
Correction: Change 0.04 to 0.044.
19.7296
$7122.72