What principal will earn $45.11 interest from July 19, 2017, to October 17, 2017, at 8.5%? The required principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

What principal will earn $45.11 interest from July 19, 2017, to October 17, 2017, at 8.5%? The required principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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What principal will earn $45.11 interest from July 19, 2017, to October 17, 2017, at 8.5%?
The required principal is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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