# math

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Joanne and Ed Greenwood built a new barn with an attached arena. To finance the loan, they paid \$1,307 interest on \$45,000 at 4.0%. What was the time, using exact interest?

• math -

I = Po*(r/365)*t = \$1307
I = 45000*(.04/365)*t = 1307
4.932t = 1307
t = 265 Days.

• math -

3.25

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