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 ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
100%
Days in a year table is available
Transcribed Image Text:Day of
31
28
31
30
31
30
31
31
month
Jan.
Feb.
Mar.
Apr.
May
30
31
30
June
July
Aug.
Sept.
Oc.
31
Nov.
Dec.
32
60
91
121
152
182
213
244
274
2.
33
61
305
335
92
122
153
183
214
245
275
306
336
3.
3
34
62
93
123
154
184
215
246
276
307
337
4
4
35
63
94
124
155
185
216
247
277
308
338
36
64
95
125
156
186
217
248
278
309
339
37
65
96
126
157
187
218
249
279
310
340
7
38
66
97
127
158
188
219
250
280
311
341
8.
8
39
67
98
128
159
189
220
251
281
312
342
9.
6.
40
68
99
129
160
190
221
252
282
313
343
10
10
41
69
130
161
191
222
253
283
314
344
||
42
70
101
131
162
192
223
254
284
315
345
12
12
43
71
102
132
163
193
224
255
285
316
346
13
13
44
72
103
133
164
194
225
256
286
317
347
14
14
45
73
104
134
165
195
226
257
287
318
348
15
15
46
74
105
135
166
196
227
258
288
319
349
16
47
75
106
136
167
197
228
259
289
320
350
16
76
107
137
168
198
229
260
290
321
351
17
17
48
199
230
261
291
322
352
18
18
49
77
108
138
169
170
200
231
262
292
323
353
19
19
50
78
109
139
232
263
293
324
354
20
51
79
110
140
171
201
20
233
264
294
325
355
52
80
141
172
202
21
21
234
265
295
326
356
81
112
142
173
203
22
22
53
357
235
266
296
327
82
113
143
174
204
23
23
54
328
358
205
236
267
297
83
114
144
175
24
24
55
329
359
206
237
268
298
84
115
145
176
25
25
56
299
330
360
177
207
238
269
57
85
116
146
361
26
26
239
270
300
331
117
147
178
208
27
58
86
301
332
362
27
209
240
271
118
148
179
28
59
87
272
302
333
363
28
180
210
241
19
149
29
88
273
303
334
364
29
150
181
211
242
89
120
365
30
243
304
30
212
151
90
31
31
*Often referred to as a Julian calendar.
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Transcribed Image Text: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.)
Principal
Interest rate
Date borrowed Date repaid
Exact time
Interest
Maturity value
$
1,800
7%
Mar, 9
June 14
nces
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