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what is the interest on a loan of $3200 at 6% for 60 days using the ordinary interest method.

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suzannecoggins Joined: 22 Oct 2009 Posts: 1 1.27 Dollars($)	Posted: Thu Oct 22, 2009 6:12 am    Post subject: what is the interest on a loan of $3200 at 6% for 60 days us I need to know how to calculate the amount of interest on loan of 3200.00 at 6% for 60 days using the ordinary interest method.
chrisburns Community Experts Joined: 13 Nov 2007 Posts: 372 Location: Florida 64.35 Dollars($)	Posted: Thu Oct 22, 2009 8:19 am    Post subject: well I would do it this way: $3200 x 6% = $192/ year $192 divided by 12 would be $16/month $16 x 2months = $32 _________________ Chris Burns Five Stars Mortgage, LLC Office: 800-871-2636 ext. 200 Cell: 407-456-3697 Florida Mortgage Five Stars Mortgage On Facebook

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