30 Search using Defa 28 30 30 31 Day of month Jan. Feb. M 3 1 Mar Apr. May June

Question

30 Search using Defa 28 30 30 31 Day of month Jan. Feb. M 3 1 Mar Apr. May June July Aug. Sept. Oct. 305 306 307 308 309 310 336 275 276 245 92 122 3 183 214 93 123 154 184 215 124 185 216 248 278 95 125 156 186 217 340 187 218 97 127 158 1 21 250 280 11 341 342 128 9 220 99 129 6190221252 282 313343 100 344 345 283 253 192 223 254 284 315 255 285 316 102132 163 193 224 13 44 72 103 13164 194 225 256 286 317 347 14 45 73 104134 165 195 226 257 287 318 320 105 135 166 196227 106 107 137 168198 22 108 109 289 290 291 292 259 136 167 197228 322 169 323 139 170 200 20 20 9140 17 2232263 293 324 354 294 325 295326 264 11141 172 202 233 112 142 173203234 2323 54 82 3 4174 204 23266 296 327 357 115 145 176 206 237 116 146177 207238 27 27 8 117147 178 208 239 270 300 3 36 180 114144 175 205 236 267 297 28 358 329 268 298 269 299 330 332 363 272 210 273 120 243

Explanation / Answer

Number of days in which funds are repaid :

For 2012 = 8 days

For 2013 = 365 days

For 2014 = 31 + 28 + 14 = 73 days

Total number of days for which funds are used = 8 + 365 + 73 = 446

Interest = $32700 * 3.75% * 446/365

= $1498.37

Interest Paid = $1498.37

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