Compute the total amount to be repaidon a \$1920 loan at 8% for 135 days. Base your calculation on exact interest(365-day year).

I'm getting \$2335.29.
Can you check my work?

1. I = 1920 * 0.08 * 0.369

I = \$56.68

56.68 + 1920 = 1976.68

posted by Ms. Sue
2. Okay that was my first thank you

posted by Renae
3. You're welcome.

posted by Ms. Sue

First Name

## Similar Questions

Compute the difference between the ordinary interest and the exact interest for a loan with a principle amount of \$1100 at 12 percent for 120 days. I'm getting \$0.60 Can you check my work?

Using the exact interest method (365 days), find the amount of interest on the following loan Principal Rate (%) Time (days) Exact Interest \$1,700 12½ % 33

using the exact interest method 365 days, find the amount of interest on the following loans, principal is \$1,700, the rate is 121/2 percent, time days is 33. what is the exact interest

Exact interest method (365 days) and ordinary interest method (360 days) for \$450 loan at 12.9% interest rate 220 days.
5. ### Math

hollis is paying off 2 student loans. One loan charges 7% interest, per year. The other loan charges 9 % interest per year. He owes \$1500 more on the 7% loan than he does on the other. Last year he paid a total of \$617.00 in
6. ### calculus

an amount of 1000 is deposited in a bank that pays 8% interest/year compounded daily (take the number of days in a year to be 365) let an denote the total amount on deposit after n days, assuming no deposits or withdrawals are
7. ### MATH

Customer borrowers \$2,200 loan at 7% interest for 100 days. Use the Banker's rule. Compare to the amount using a 365- day year
8. ### MAth

1. John’s loans for his business total \$155,000. One of the loans is a SBA loan at 11% interest; the other loan is a Community Business Partner loan whose interest is 6.5% After one year the loans accumulated \$12,325 in
9. ### math

The total amount of interest on a loan of \$6,000 for 150 days is 210.50.Using the ordinary interest method,what is the rate of interest on this loan?Round answer to the nearest hundredth. I know the ordinary interest method is 360
10. ### math

the total amount of interest on this loan of \$6000 for 150 days is \$210.50. what is the rate of interest on this loan? If not compounded, or simple interest, then Interest=Principal(rateinterest)*time Here time is 5/12 of a year,

More Similar Questions