Gene mcdonald’s bank granted him a single-payment loan of $5,000 for 90 days at 9% exact interest. what is the amount of exact interest owed?

Interest can be ordinary or exact. Exact interest is calculated for a 365-days period. Let's calculate how much is that. For a 365-day period amount is loan multiplied by interest rate:

A = L • I

A = 5000 • 9/100

A = $450

We already stated that this is for a 365-day period. Now let's find how much is that for a 90-day period given in this text. For this we can use the proportion:

90 : x = 365 : $450

x = 450 • 90 / 365

x = $111

the answer is thin because within context, the stanza concludes the and frail tone the people have toward each other, and the fact that it would be thin, makes the most sense compared to "pliable" or "not hard or firm to the touch". hope this , good luck.

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