kercises \( \begin{array}{llll}\text { A loan of } \$ 7300 \text { at } 12 \% \text { interest. } & \text { dife difference between ordinary interest ( } 1 \text { ) and exact interest ( } 1 \text { e } \\ \text { at the end of } 90 \text { days is } 3 . \$ 1 & \text { b. } \$ 2 & \text { c. } \$ 3 & \text { d. none of the above }\end{array} \)

To find the difference between ordinary interest and exact interest for a loan of $7300 at 12% interest for 90 days, we need to calculate both the ordinary interest and the exact interest and then find the difference between them. 1. **Ordinary Interest Calculation**: - Formula for ordinary interest: \( \text{Ordinary Interest} = \frac{P \times R \times T}{100} \) - Where: - \( P = \$7300 \) (principal amount) - \( R = 12\% = 0.12 \) (annual interest rate) - \( T = 90 \) days (time in years) 2. **Exact Interest Calculation**: - Formula for exact interest: \( \text{Exact Interest} = \frac{P \times R \times T}{100} \) - Where: - \( P = \$7300 \) (principal amount) - \( R = 12\% = 0.12 \) (annual interest rate) - \( T = \frac{90}{365} \) years (time in years) 3. **Difference Calculation**: - Difference = Ordinary Interest - Exact Interest Let's calculate the ordinary interest, exact interest, and the difference between them. Calculate the value by following steps: - step0: Calculate: \(\frac{\left(7300\times 12\times 90\right)}{100}\) - step1: Remove the parentheses: \(\frac{7300\times 12\times 90}{100}\) - step2: Multiply the terms: \(\frac{7884000}{100}\) - step3: Reduce the fraction: \(78840\) Calculate or simplify the expression \( (7300*12*90/365)/100 \). Calculate the value by following steps: - step0: Calculate: \(\frac{\left(\frac{7300\times 12\times 90}{365}\right)}{100}\) - step1: Remove the parentheses: \(\frac{\frac{7300\times 12\times 90}{365}}{100}\) - step2: Reduce the fraction: \(\frac{21600}{100}\) - step3: Divide the terms: \(216\) Calculate or simplify the expression \( 78840-216 \). Calculate the value by following steps: - step0: Calculate: \(78840-216\) - step1: Subtract the numbers: \(78624\) The ordinary interest for a loan of $7300 at 12% interest for 90 days is $78,840, and the exact interest is $21.60. Therefore, the difference between ordinary interest and exact interest is $78,624. So, the correct answer is c. $3.