Lucky Champ owes $191.25 interest on a 6% loan he took out on his March 17 birthday to upgrade an oven in his Irish restaurant, Lucky’s Pub and Grub. The loan is due on August 17. What is the principal (assume ordinary interest)?Required:What is the number of days between the two dates listed below?Note: Use the DATEDIF or DAYS function to calculate the number of days.3/17/20208/17/2020What is the time?What is the term?Note: Answer should be entered as a numeric value and not a formula.What is the interest paid?Note: Answer should be entered as a numeric value and not a formula.What is the days in the year?Note: Answer should be entered as a numeric value and not a formula.What is the annual simple interest?Note: Answer should be entered as a numeric value and not a formula.What is the principal?

Answered: Lucky Champ owes $191.25 interest on a…

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

What is the number of days between the two dates listed below?
Note: Use the DATEDIF or DAYS function to calculate the number of days.

3/17/2020

8/17/2020
What is the time?
What is the term?
Note: Answer should be entered as a numeric value and not a formula.
What is the interest paid?
Note: Answer should be entered as a numeric value and not a formula.
What is the days in the year?
Note: Answer should be entered as a numeric value and not a formula.
What is the annual simple interest?
Note: Answer should be entered as a numeric value and not a formula.
What is the principal?