Question

Find the interest. A 105-day note for $14,200 at 8.5% interest.

Answer 1

Answer;

$347.22

Step-by-step explanation;

Principal = $14,200

Rate = 8.5%

Time = 105 days = 105/365

Interest = Principal x Rate x Time

Interest = 14,200 x 0.085 x 105/365

Interest = 347.219

= $347.22