mmihelefrance3 mmihelefrance3

27-10-2017
Business

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Trevor Williams’ bank calculates interest daily. At an APR of 3%, how much simple interest does $2,000 earn in twelve days?

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lilyanaserrato lilyanaserrato

31-10-2017

The answer is $1.97.

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MrsTriplet MrsTriplet

21-03-2019

To calculate Trevors' interest amount in twelve days use the following formula

Prt = I

Principal = $2,000

Rate = 0.03

Time = 12/365

Interest = ?

($2,000)(0.03)(12/365) = I

I = $1.97

Answer Link

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