A 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.
Feb 1, 2017, to Dec. 15, 2017 =317 days.
50,000 x (9.79/100) =4,895 simple interest for 1 full year.
4,895 / 365 =13.41 interest for 1 day.
13.41 x 317 days =4,250.97 interest from Feb. 1, 2017, to Dec.15, 2017.
