What is the amount of ordinary interest owed? ?

Question

Barbara D'Angelo's bank granted her a single-payment loan of $1,000.00 for 100 days at 12 percent ordinary interest. What is the amount of ordinary interest owed?

$36.77

$32.15

$33.33

$34.55

Answer 1

100/365 * .12 *1000=32.88

(12 months=12%) or 1% each month    

your teacher may be looking for 3 and 1/3 months of interest at 1% each month

3.33% months x 1000 = 33.33