Joanne and Ed Greenwood built a new barn with an attached arena. To finance the loan,...
Joanne and Ed Greenwood built a new barn with an attached arena. To finance the loan, they paid $1,279 interest on $44,100 at 3%. What was the time, using exact interest? (Do not round intermediate calculations. Round up your answer to the nearest day.)
Homework Answers
Interest = Principal × Rate × Time
$1,279 = $44,100 × 0.03 × Time/365
Time = ($1,279 × 365) / ($44,100 × 0.03)
Time = 353 days
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Joanne and Ed Greenwood built a new barn with an attached arena.
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