fund has ₱50,000 in its account. If it earns 9.79%, how much interest will it have from February 1 to December 15? Use exact interest, approximate time.

fund has ₱50,000 in its account. If it earns 9.79%, how much interest will it have from February 1 to December 15? Use exact interest, approximate time.

 

From Feb. 1, 2016 to Dec. 15, 2016 =318 days

50,000 x 9.79/100 =4,895 Interest for 1 full year

4,895/365 x 318 =4,264.68 Interest for 318 days of 2016.