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September 1, 2014

September 1, 2014

Posted by **Krystle** on Sunday, June 23, 2013 at 12:38am.

- Math -
**MathMate**, Sunday, June 23, 2013 at 5:55amThe ordinary interest method is to calculate simple interest based on 360 days in a year.

So

interest=principal*(days/360)*rate

68.50=principal*(274/360)*6%

therefore

principal=68.50*(360/274)/0.06

=$1500

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