need help with business math

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Calculate the simple interest on a 430 day loan of $9,817.00 at 6.75% using bankers rule ?

May 29th, 2015

According to banker's rule a year has 360 days. 

S.I.= P * R * T

= 9817 * (6.75/100) * (430/360)

= 9817 * 0.0675 * 1.1944444444

= 791.495622

May 29th, 2015

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May 29th, 2015
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