SOLUTION: I need to know the exact interest on a $5000.00 loan at 8% annually for 80 days?

SOLUTION: I need to know the exact interest on a $5000.00 loan at 8% annually for 80 days?

Algebra.Com

Question 794127: I need to know the exact interest on a $5000.00 loan at 8% annually for 80 days?

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=5000*0.08*80/365
I=$87.67
RELATED QUESTIONS
Find the exact interest on a loan of 6,000 at 9% annually for 80... (answered by rfer)

find the exact interest on a loan of $33,000 at 8% annually for 25... (answered by checkley77)

Find the exact interest on a loan of $32,600 at 8% annually for 35 days.... (answered by stanbon)

A- A businessperson took out a loan of $ 120,000 from the Bank at a simple interest rate... (answered by Boreal)

A loan for $5000 with interest at 7.75% compounded semi annually is reaid after 5years,10 (answered by Theo,MathTherapy)

Andrew borrowed PhP 25,000.00 and agrees to repay the loan by level monthly installments (answered by Theo)

the simple interest at 11% for 90 days on a 14.000 loan... (answered by rfer)

I am having trouble setting up these problems, I do not know which formula to use r=I/pt... (answered by Theo)

Find the amount due on a loan of $14,000 at 12%interest compounded annually for 5... (answered by vleith)