Find the exact interest on a loan of $32,400 at 7% annually for 30

32,400 * 0.07 * 30/365 = I

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To find the exact interest on a loan of $32,400 at 7% annually for 30 days, we can use the formula for simple interest:

Interest = (Principal * Rate * Time) / (365 or 360)

Here, the principal is $32,400, the rate is 7% (or 0.07 in decimal form), and the time is 30 days.

Now we'll substitute these values into the formula:

Interest = (32,400 * 0.07 * 30) / 365

To simplify the calculation, we can first divide 30 by 365 to convert the time to a fraction of a year:

Interest = (32,400 * 0.07 * 30 / 365)

Next, multiply the principal, rate, and time:

Interest = (32,400 * 0.07 * 30) / 365

Interest = 655.51

Therefore, the exact interest on a loan of $32,400 at 7% annually for 30 days is $655.51.