Homework Answers
Answers: 265 Days (or) 261 Days
annual interest = 45,000*4% = 1800 Per annum
Interest Paid = $ 1,307
Interest Days = ( interst Paid /annul interset ) * Days in a Year
Assume 365 Days in a year
interest Days = (1307/1800)*365 = 265.03 Days
If 360 Days are Considered
Interest Days = ( 1307 /1800) *360 Days = 261 Days
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