1. **State the problem:** Kenneth borrowed 7808 to buy a car. The interest rate is 9.13% per annum. We need to find the interest for 45 days.
2. **Formula used:** The simple interest formula is $$I = P \times r \times t$$ where:
- $I$ is the interest
- $P$ is the principal amount
- $r$ is the annual interest rate (in decimal)
- $t$ is the time in years
3. **Convert the interest rate to decimal:**
$$r = \frac{9.13}{100} = 0.0913$$
4. **Convert time from days to years:**
$$t = \frac{45}{365}$$
5. **Calculate the interest:**
$$I = 7808 \times 0.0913 \times \frac{45}{365}$$
6. **Intermediate calculation:**
$$I = 7808 \times 0.0913 \times 0.1232876712$$
7. **Multiply step-by-step:**
$$7808 \times 0.0913 = 712.1504$$
8. **Final interest:**
$$I = 712.1504 \times 0.1232876712 = 87.819091$$
**Answer:** Kenneth would have to pay approximately **87.819091** interest in 45 days.
Car Loan Interest 27D74A
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