Fellen Inc, borrowed $150,000.00 at 3.15% for 100 days. The company paid $30,000.00 on day 30 and another $50,000.00 on day 60. How much does the company need to pay on the due date using the ordinary interest method (round to the nearest cent)? O a. $70,709.78 O b. $70,957.27 O c. $120,393.75 d. $150,525.00

Fellen Inc, borrowed $150,000.00 at 3.15% for 100 days. The company paid $30,000.00 on day 30 and another $50,000.00 on day 60. How much does the company need to pay on the due date using the ordinary interest method (round to the nearest cent)? O a. $70,709.78 O b. $70,957.27 O c. $120,393.75 d. $150,525.00

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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