te the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest Rate Date borrowed date repaid exact time interest maturity $1,400 9% March 09 June 11

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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Complete the following, using ordinary interest. (Use Days in a year table.)

Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.

Principal Interest Rate Date borrowed date repaid exact time interest maturity
$1,400 9% March 09 June 11      
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