# SOLUTION: Can someone please help me with this problem: Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessa

Algebra ->  Algebra  -> Equations -> SOLUTION: Can someone please help me with this problem: Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessa      Log On

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 Click here to see ALL problems on Equations Question 203887: Can someone please help me with this problem: Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary. A loan of \$76,000 at 11% made on Feb 29 and due on June 30.Answer by scott8148(6628)   (Show Source): You can put this solution on YOUR website!March -- 31 days April -- 30 days May -- 31 days June -- 30 days total days -- 122 interest = 76000 * 11% * 122/365 = 760 * 11 * 122/365 = 2794.30