How Much Simple Interest Would Be Paid On A Loan Of 5450 At 10 55 For 195 D

Solution

195/365 x .1055 x 5450 = 307.178 = $307.18

195/335 = 0.53425, over half a year

0.53425 x .1055 = .056363

.056363 x 5450 = 307.18