Finance Question, about Interest?

Question

Andrew borrowed $3,000 at 10% pa on January 12, 1995. He decided to pay the loan back by November 23rd. How much interest will Andrew pay?

This is the full question, i just didnt have enough space to write it down.

Answer 1

Principal=$3,000
time=19+28+31+30+31+30+31+31+30+31+23=315 days=315/365 years=63/73 years
Rate=10%p.a.
Interest=(3000X10X63)/100X73
=$258,90

Answer 2

The amount of interest Andrew pays is directly proportional to the number of days which have elapsed since taking out the loan.

Noting that there are 365 days in a year, not 360, we subtract out the days in January before he took out the loan and the final days in November and in December, we get the result that Andrew will take 316 days to repay the loan:

365 - (11 + 7 + 31) = 365 - 49 = 316.

The interest he will pay then is:

I = (316 / 365) (0.10) ($3,000) = $259.73

So Andrew will pay $259.73 in interest.

Answer 3

Supposing the interest is annual, the interest amount is:

3.000 (borrowed amount) * 315/360 (time between maturity and borrowing date divided by days in a year) * 10/100 (interest) = 262,5 $

Answer 4

$300 his one yer interest but you not mention in witch year he decided to pay their loan