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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.

Guest Sep 10, 2017
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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.

Guest Sep 10, 2017
edited by Guest  Sep 10, 2017

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