You get a single payment loan of $4,400 at an interest rate of 12% the term of the loan is 172 days how much exact interest will
you pay
2 answers:
9514 1404 393
Answer:
$248.81
Step-by-step explanation:
The interest formula is ...
I = Prt
where principal P earns interest at annual rate r for t years. Here, t is a fraction of a year: 172/365. The interest is ...
I = $4400×0.12×172/365 ≈ $248.81
You will pay interest of $248.81.
Answer:
<h3>
$ 248. 81 is the answer.</h3>
Step-by-step explanation:
<h2>
</h2>
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