On April 17, 2010, Janeen Camoct took out an 7.6% loan for $23,500. The loan is due March 22, 2011. Use ordinary interest to calculate the interest. |
What total amount will Janeen pay on March 22, 2011? So far I have: 365 - - - - - - -23,500 x .076 x 339 divided by 360 for me comes up to 0.940 divided by 23,500= 24,973.43 which is not right. Ordinary interest in 360 days 107- (April 17th) ------- 258 +81 (March 22nd) ------ 339 |