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Find the interest odf the loan using banker's ruleP - $350,- = 4.8%, t = 150 days
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Find the interest odf the loan using banker's ruleP - $350,- = 4.8%, t = 150 days

User Florian Reischl
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i = P r T

interest: i

Principal = $350

Interest rate : 4.8% (in decimal form, 4.8/100 = 0.048)

time = t = days/365 = 150/360

Replacing:

i= 350 (0.048) (150/360) = 7

User Nikhil Rupanawar
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