What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $135.00? (Round any fraction to the next higher day.) O 162 days O 163 days O 164 days O 165 days
What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $135.00? (Round any fraction to the next higher day.) O 162 days O 163 days O 164 days O 165 days
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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![What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $135.00? (Round any fraction to the next higher day.)
O 162 days
O 163 days
O 164 days
O 165 days](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F26214320-6886-428b-9248-a436cb33e30f%2Fafa4f79d-47b0-464b-a2a5-92a73f549786%2F61zb5xi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $135.00? (Round any fraction to the next higher day.)
O 162 days
O 163 days
O 164 days
O 165 days
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