Question: Dirk Ward borrowed $ 1 3 , 0 0 0 . 0 0 for investment purposes on May 1 3 on a demand note providing
Dirk Ward borrowed $ for investment purposes on May on a demand note providing for a variable rate of interest and payment of any accrued interest on December He paid $ on June $ on September and $ on November How much is the accrued interest on December if the rate of interest was on May effective August and effective November
The accrued interest on December is $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
