E. On May 30, 2012 a lady manufacturing engineer loaned $ 15,000 in the bank for the expansion of her growing industry. It was agreed that she will pay the amount with 6% rate of interest on August 10, 2012. What is the ordinary simple interest to be paid?

E. On May 30, 2012 a lady manufacturing engineer loaned $ 15,000 in the bank for the expansion of her growing industry. It was agreed that she will pay the amount with 6% rate of interest on August 10, 2012. What is the ordinary simple interest to be paid?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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