Real Estate Math
A Virginia property's loan has a principal balance of $250,000 at 6% annually. What is the daily interest accrual (using 365 days)?
A$34.25
B$41.10✓ Correct
C$50.68
D$125.00
Explanation
Daily interest = $250,000 × 6% ÷ 365 = $15,000 ÷ 365 = $41.10 per day.
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