Posted by **Anonymous** on Wednesday, June 20, 2012 at 9:35am.

Janet took out a loan of $50,000 from Bank of America at 8 percent on March 19, 2006 which is due on July 8, 2006. Using exact interest, the amount of Janet's interest cost is

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**Reiny**, Wednesday, June 20, 2012 at 9:38am
Count the number of days.

interest = 50000(.08)(number of days/365)

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**Sylvia**, Monday, June 23, 2014 at 8:57pm
Janet took out a loan of $50,000 from Bank of America at 8 percent on March 19, 2006 which is due on July 8, 2006. Using exact interest, the amount of Janet's interest cost is: $5,018.44

$2,561.44

$5,261.44

$5,216.44

None of these

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**Anonymous**, Wednesday, February 25, 2015 at 11:34pm
5216.44

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