Question

Find the interest due on &1,400 at 9% for 270 days

Answer 1

Answer:
Interest = $93.205

Explanation:
Interest can be calculated as follows:
I = Prt
where:
I is the interest we want to canlculate
P is the principle amount = $1400
r is the interest rate in decimal = 9% = 0.09
t is the time in years = 270/365

Substitute with the givens in the above equation to get the value of the interest as follows:
I = 1400 * 0.09 * (270/365)
I = $93.205

Hope this helps :)