math

What is the interest owed if the principle is 56,950. at 11 4/5 % interest for 155 days, using the 365 day calendar?

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  1. Simple interest formula:
    Interest
    =PRT
    =56950*0.118*(155/365)
    =2853.74

    Compound interest:
    depends on the compounding frequency (not available)

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