SOLUTION: Find both the exact & ordinary interest on 34,200 at 9 1/4% for 126 days. Please show me how to figure this out.

Question 724310: Find both the exact & ordinary interest on 34,200 at 9 1/4% for 126 days. Please show me how to figure this out.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find both the exact & ordinary interest on 34,200 at 9 1/4% for 126 days. Please show me how to figure this out.
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I = P*r*t
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I = 34,200*0.0925*(126/365) = $1092.06
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Cheers,
Stan H.
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