00:01
On september 12th, jody went to the bank to borrow $2 ,300 at 9 % interest.
00:08
Jody plans to repay the loan on january 27th.
00:12
Assume the loan is an ordinary interest, which is a simple interest, and used days in a year table.
00:18
What interest would jody owe on january 27th? well, i don't have a days in the year table, but i've figured out that between these two dates, there are 138 days.
00:33
So we're looking for 138 days.
00:37
So let's see how much interest she's going to owe.
00:40
So we're going to go interest.
00:42
It's going to be our principal times rate times time.
00:46
So it's going to be 2 ,300 times 9 % a year.
00:50
But i'm going to rewrite that as 0 .09 per year.
00:56
And we're looking for 138 days...