A print shop borrows $8400 from a credit union for 214 days. The credit union charges...
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A print shop borrows $8400 from a credit union for 214 days. The credit union charges simple interest at an annual rate of 5.75% for this loan. Assume each day is of a year. Answer each part below. 365 Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find the interest that will be owed after 214 days. (b) $0 Assuming the print shop doesn't make any payments, find the amount owed after 214 days. $0 X A print shop borrows $8400 from a credit union for 214 days. The credit union charges simple interest at an annual rate of 5.75% for this loan. Assume each day is of a year. Answer each part below. 365 Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find the interest that will be owed after 214 days. (b) $0 Assuming the print shop doesn't make any payments, find the amount owed after 214 days. $0 X
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Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
Posted Date:
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