1) If the exact interest on a given principal is $14.40, find the ordinary interest for the...
Fantastic news! We've Found the answer you've been seeking!
Question:
1) If the exact interest on a given principal is $14.40, find the ordinary interest for the same period of time.
2) The difference between the ordinary and exact interest on a certain sum is $0.40. Find the exact interest on this sum.
3) John owes $1500 due at the end of two years and is offered the privilege of paying a smaller sum immediately. At which simple interest rate, 5% or 6%, would his creditor prefer to compute the present value of John's obligation?
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Posted Date: