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Find the ordinary interest on a loan of $660 at 8% annually made on February 18...

Question:

Find the ordinary interest on a loan of $660 at 8% annually made on February 18 and due May 31. Round to the nearest cent. O

Find the ordinary interest on a loan of $660 at 8% annually made on February 18 and due May 31. Round to the nearest cent. O A. $52.80 O B. $674.96 OC. $14.81 OD. $14.96

Answers

Answer: D. $14.96 Ordinary interest is simply interest calculated assuming 360 days in a year. However, in the numerator, the

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