Post a New Question

math

posted by .

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

  • math -

    Count the number of days.

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

  • math -

    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

  • math -

    5216.44

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question