Saturn Corporation borrowed $412,000 at $12 \frac { 1 } { 2 } \%$ interest on May 20 for 72 days. The bank uses the exact interest method. What is the amount of interest on the loan? (Round to the nearest cent)

Question

Saturn Corporation borrowed $412,000 at

12 \frac { 1 } { 2 } \%

interest on May 20 for 72 days. The bank uses the exact interest method. What is the amount of interest on the loan? (Round to the nearest cent)

Quizplus · Accepted Answer

The Answer of Saturn Corporation borrowed $412,000 at $12 \frac { 1 } { 2 } \%$ interest on May 20 for 72 days. The bank uses the exact interest method. What is the amount of interest on the loan? (Round to the nearest cent)

Saturn Corporation Borrowed $412,000 At 1212%12 \frac { 1 } { 2 } \%1221​%

Saturn Corporation Borrowed $412,000 At $12 \frac { 1 } { 2 } \%$