Mr. Davis borrowed $600 for 60 days at 9% annual interest. However he was able to repay the loan in 30 days. How much interest was he able to save by doing this?

Thus he was able to save 4.438 dollars by paying 30 days before due.

Step-by-step explanation:

given that Mr. Davis borrowed $600 for 60 days at 9% annual interest.

Thus interest payable for 60 days =

Because he paid fully after 30 days his interest would have been only for 60 days

or half of interest for 60 days

So savings of interest = 50% of 8.876

=4.438 dollars

Thus he was able to save 4.438 dollars by paying 30 days before due.

coins of silver or gold

step-by-step explanation: