Billy Thornton borrowed $30,000 at a rate of 7.25%, simple interest, with interest paid at the end

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Billy Thornton borrowed $30,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Billy have to pay in a 30-day month?

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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Posted Date: Mar 27, 2023 02:07 AM

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Billy Thornton borrowed $30,000 at a rate of 7.25%, simple interest, with interest paid at the end

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Step 11 Answer Interest paid in 30 days 12083 Explanation Interest paid Pri... View the full answer

Accounting Principles

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