Homework SourseComplete the following using ordinary interest Use Days in a
Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the \"Interest\" and \"Maturity value\" to the nearest cent.)
Complete the following, using exact interest. (Use Days in a year table.) (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 value | |||||||||
| $1,500 | 6% | July 25 | Jan.15 | $ | $ | ||||||||||
Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the \"Interest\" and \"Maturity value\" to the nearest cent.)
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Solution
Principal Interest rate Date barrowed Date repaid Exact time Interest Maturity value
$1,500 6% july 25 jan 15 173 days $42.66($1500*6%*173/365) $1542.66(1500+42.66)
Principal Interest rate Date barrowed Date repaid Exact time Interest Maturity value
$2,900 9% May 21 Aug 9 79 days $56.49($2900*9%*79/365) $2956.49(2900+56.49)
![Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the \](/WebImages/18/complete-the-following-using-ordinary-interest-use-days-in-a-1036882-1761538129-0.webp "Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the \")
