Diane Vans Os decoded to buy a ised snowmobile since her credit union was offeri

Question

Diane Vans Os decoded to buy a ised snowmobile since her credit union was offering such low interest rates. she borrowed $4,300 at 3.75% on December 26, 2013 and paid it off February 21,2015. How much did she pay in interest?
Interest paid $_________
Show work Diane Vans Os decoded to buy a ised snowmobile since her credit union was offering such low interest rates. she borrowed $4,300 at 3.75% on December 26, 2013 and paid it off February 21,2015. How much did she pay in interest?
Interest paid $_________
Show work
Interest paid $_________
Show work

Explanation / Answer

Borrowings 4300

Interest Rate 3.75%

Date of Borrowing 26th, December '03

Date of Repayment 21st, February '05

Number of Days = 424

Interest Rate per day = 3.75%/365 = 0.010%

Interest Paid = 4300*0.010%*424 = 187.32

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