From the information given below, calculate the accrued interest for the following notes (round to two decimal places, if necessary). Assume 360 days in a year.: InterestAccruedPrincipalRateTimeInterest$11.$2,2009.5%45 days$12.2,50012.5%60 days13.2,80010.75%90 days2414.3,3008.9%30 days$15.4,8007.3%120 days

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calculate the accrued interest for the following notes (round to two decimal places, if necessary). Assume 360 days in a year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

From the information given below, calculate the accrued interest for the following notes (round to two decimal places, if necessary). Assume 360 days in a year.:

Interest
Accrued
Principal
Rate
Time
Interest
$
11.
$2,200
9.5%
45 days
$
12.
2,500
12.5%
60 days
13.
2,800
10.75%
90 days
24
14.
3,300
8.9%
30 days
$
15.
4,800
7.3%
120 days

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