You are going to borrow $71,500.00 for 200 days. you are to be loaned the money at an interest rate of 9%, and you are given the option to choose exact or ordinary interest. which would you choose? explain.

You would choose exact interest. 200 days is a smaller fraction of 365 days than it is of 360 days, so the effective rate would be lower for exact interest.

The amount of interest is

... I = Prt = 71,500·0.09·200/days

The larger value you choose for days, the smaller the interest amount will be.

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i havent taken the psat, but i have the sat, make sure to bring some snacks, because youre in there forever, 2 sharp number two pencils, an sat approved calculator, and maybe a jacket.   your phone and any books will be taken up, so don't try to bring them(but they will be given back at the end of the testing).   good luck!   i hope you do well!