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March 27, 2017

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On May 23, Samantha Best borrowed $40,000 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?

  • math - ,

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

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