Quandaries and Queries
 

 

how much money is 3 days interest on one million dollars?

Thank you
Teresa

 

 

Hi Teresa,

You didn't tell me the interest rate. Just to see what to do let's say that the interest rate is 5% per year. At 5% per year one million dollars would earn

$1,000,000 0.05 = $50,000 in one year.

Thus you would get

 $50,000/365 3 interest in 3 days.

Penny

 
 

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