Question

Sarah borrowed $16,500 on May 23 with interest due on September 3. If the interest rate is 9%, find the interest on the loan using exact interest and ordinary interest.

Answer 1

i believe it’s 1,485 if i did it right and if it’s 16,500 • 9%

Answer 2

Exact Interest I = $419.06

Ordinary Interest I = $424.88

Hope this helps!