she borrowed 32,000 at 3.5% on december 26, 2012, and paid it off February 21, 2014. how much did she pay in intrest?

T = 365 + 57 = 422 Days.

r = (3.5%/365)/100% = 9.58904*10^-5 =
Daily % rate expressed as a decimal.

I = Po*r*T
I= 32000*0.00009589*422 = $1294.90

To calculate the amount of interest paid, we need to determine the duration of the loan and the interest rate.

The loan was borrowed on December 26, 2012, and paid off on February 21, 2014. Let's calculate the number of days between these dates.

Number of days in December 2012: 31
Number of days in 2013: 365
Number of days in January 2014: 31
Number of days in February 2014 (until the 21st): 21

Total number of days: 31 + 365 + 31 + 21 = 448 days

Now, let's calculate the interest paid. The formula for calculating simple interest is:

Interest = Principal x Rate x Time

Principal (amount borrowed): $32,000
Rate: 3.5% (or 0.035 in decimal form)
Time (in years): 448 days / 365 (since the interest rate is specified annually)

Time = 448 / 365 ≈ 1.23 years

Interest = $32,000 x 0.035 x 1.23

Calculating this, we find:

Interest = $1,414.40

Therefore, she paid approximately $1,414.40 in interest.

To determine the amount of interest paid, we need to calculate the interest for the duration of the loan period. The interest is calculated based on the principal amount borrowed, the interest rate, and the time (in years) the loan is held.

In this case, the principal amount borrowed is $32,000 and the interest rate is 3.5%.

First, we need to calculate the duration of the loan. The loan period start date is December 26, 2012, and the end date is February 21, 2014. To find the duration in years, we can count the number of days and divide by 365 (assuming each year has 365 days).

Days between December 26, 2012, and February 21, 2014:
31 days in December 2012
365 days in 2013
52 days in 2014 (up to February 21)

Total days = 31 + 365 + 52 = 448 days

Now, dividing by 365, we get the duration in years:
448 days / 365 = 1.227 years (rounded to three decimal places)

Next, we can calculate the interest using the formula:
Interest = Principal Amount * Interest Rate * Time

Interest = $32,000 * 0.035 * 1.227
= $1,128

Therefore, she paid $1,128 in interest over the course of the loan.