An amount of 5 million is placed on deposit from 17 August to 31 December at...
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An amount of 5 million is placed on deposit from 17 August to 31 December at 6.7%. What would be the interest earned if the rate had been quoted on an ACT/365, ACT/360 or 30/360 basis? An amount of 5 million is placed on deposit from 17 August to 31 December at 6.7%. What would be the interest earned if the rate had been quoted on an ACT/365, ACT/360 or 30/360 basis?
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To calculate the interest earned on a deposit of 5 million at 67 from August 17 to December 31 we ne... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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