SOLUTION: how do I get this answers of accounting of interest. ( 964,800 x .07% x 5/12% = 28140 ).how do they come up with this answers.

SOLUTION: how do I get this answers of accounting of interest. ( 964,800 x .07% x 5/12% = 28140 ).how do they come up with this answers.

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Question 978098: how do I get this answers of accounting of interest. ( 964,800 x .07% x 5/12% = 28140 ).how do they come up with this answers.

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
I get this only if it is 7% (0.07)
and (5/12), no per cent. This would be 7% for 5 months, presumably.
964800*(0.07)*(5/12)=28,140.23
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