if apr is 7.3% daily and haad $400 1st 10 days, 1500 next 10 and 600 next 10 how much intrest was earned at end of month
To calculate the interest earned at the end of the month, we need to determine the interest earned for each period and then add them up.
First, let's find the interest earned for each period.
For the first 10 days:
Principal = $400
APR (Annual Percentage Rate) = 7.3%
Daily interest rate = APR / 365 (assuming the interest is compounded daily)
Interest earned for 10 days = Principal * Daily interest rate * Number of days
= $400 * (7.3% / 365) * 10
= $0.20
For the next 10 days:
Principal = $1500
Interest earned for 10 days = Principal * Daily interest rate * Number of days
= $1500 * (7.3% / 365) * 10
= $3.65
For the final 10 days:
Principal = $600
Interest earned for 10 days = Principal * Daily interest rate * Number of days
= $600 * (7.3% / 365) * 10
= $1.22
Now, let's sum up the interest earned for each period:
Total Interest = Interest for first 10 days + Interest for next 10 days + Interest for final 10 days
= $0.20 + $3.65 + $1.22
= $5.07
Therefore, the interest earned at the end of the month is $5.07.