Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,200 10.4 ?? days $224
Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,200 10.4 ?? days $224
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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Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary.
Principal | Rate (%) | Time | Interest |
---|---|---|---|
$7,200 | 10.4 | ?? days | $224 |
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