I owe $2305.00 on a bill from 342 days ago and the interest is 6.96%. what would the interest due amount be?

Question

I owe $2305.00 on a bill from 342 days ago and the interest is 6.96%. what would the interest due amount be?

Answer 1

the interest owing is $150.32

Answer 2

Depends on how it is compounded. It would be different if it was contiuously compounded, compounded daily, weekly, monthly, yearly, et cetera. Based on the information you give there is nothing more than an estimate which can be given. It won't be more than $200 and it won't be less than $150. I would guess probably close to $170, but that is just an estimate.