math
posted by michele .
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

4,000

That would be the interest for the whole year, so it is incorrect
see ....
http://www.jiskha.com/display.cgi?id=1340199302