He has decided on a term of 95 days at 8% interest.
He has a choice of two lenders.
One calculates interest using a 360-day year and the other uses a 365-day year.
Find the amount of interest Wendell will save by using the lender with the 365-day year.
$1.54
$1.67
$1.63
$1.68
+3
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Home » Mathematics » Keith Wendell plans to borrow $5,810. He has decided on a term of 95 days at 8% interest. He has a choice of two lenders. One calculates interest using a 360-day year and the other uses a 365-day year.