Raul fletes borrowed $1 on a 270-day note that required ordinary interest at 14.42%. raul paid $5000 on the note on the 90th day. how much interest did he save by making the partial payment?

The interest expenses Raul saves by making the partial repayment on the 90th day of the note is: $360.5.

Explanation:

Assume the interest calculation is based on a 360-day-per-year basis.

By making partially repayment of $5,000 at the 90th day of the note, Raul has saved the interest expenses incurred for the $5,000 principal for the remaining 180 days of the note ( calculated as 270 days - 90 days).

So, the interest expenses saving is calculated as:

5,000 x 14.42% * 180/360 = $360.5.

So, the answer is $360.5.

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