Complete the following, using ordinary interest. (Use Table 71) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Answer is complete but not entirely correct. Principal $ 585 Interest rate Date borrowed Date repaid Exact time Interest Maturity value 9% June 05 December 15 193 $ 27.64 x $ 612.64 X

Corporate Fin Focused Approach
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ISBN:9781285660516
Author:EHRHARDT
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Chapter4: Time Value Of Money
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Complete the following, using ordinary interest. (Use Table 71)
Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.
Answer is complete but not entirely correct.
Principal
$
585
Interest
rate
Date
borrowed
Date repaid
Exact time
Interest
Maturity value
9%
June 05
December 15
193
$
27.64 x $
612.64 X
Transcribed Image Text:Complete the following, using ordinary interest. (Use Table 71) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Answer is complete but not entirely correct. Principal $ 585 Interest rate Date borrowed Date repaid Exact time Interest Maturity value 9% June 05 December 15 193 $ 27.64 x $ 612.64 X
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