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Find the simple interest. Assume a 360 day year?
$8216.33 at 8.2% for 57 days
The simple interest is $ ___
(Round to the nearest cent as needed)
3 Answers
Relevance
- Anonymous1 year ago
Interest per day is 0.082 / 360 = 0.00022778
Simple interest = $8216.33 * 0.00022778 * 57 = $106.68
- Anonymous1 year ago
A year has 365 days this question should be nullified because it does not match the reality.
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