Answer:
I don't think you are doing anything wrong. Just ignore it and write the repeating decimal. If you're asked to do it, round it up instead.
The formula for simple annual interest is:
I = Prt
where,
I = Interest accumulated = $910.90
P = Principal Amount = $62000
r = Interest rate = 9.4% = 0.094
t = time in years
Using the values in above equation, we get:
910.90 = 62000 x 0.094 x t
⇒ t = 910.90/(62000 x 0.094) = 0.156
This is the time in years. Since there are 365 days in a year, the time in days will be:
t = 0.156 x 365 = 57 (rounded to nearest day)
This means, Nate kept the borrowed money for 57 days
It is because the 35.4% divided the 100% total is B. 0.354
