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Calculate the amount of interest paid on this transaction

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Reference no: EM133104880

Question - Consider a loan with a nominal value of €30,000 maturing on June 01. The value date is March 01 and the interest rate is 8%.

a. Calculate the amount of interest paid on this transaction, knowing that the calculation is done by number of exact days based on 360.

b. What would have been this same amount by adopting a calculation in number of days months" based on 360 or in exact number of days based on 365?

c. Calculate the difference as a percentage.

Reference no: EM133104880

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