Question: Drill Problem 10-6 [LU 10-1 (2)] Complete the following using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the
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Drill Problem 10-6 [LU 10-1 (2)] Complete the following using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value to the nearest cent.) Exact time Interest Maturity value Principal $1,338 Interest rate 10% Date borrowed May 16 Date repaid Jan. 11 240 TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 30 Nov. 31 Dec. 335 31 Jan I 2 3 4 28 3130 Feb Mar Apr 32 60 91 33 61 92 34 62 93 3563 94 95 31 May 121 122 123 24 125 126 127 128 129 30 June 152 153 154 155 156 157 158 159 160 31 July 182 183 184 185 186 187 188 189 190 31 Aug. 213 214 215 216 . 30 Sept. 244 245 246 247 248 31 Oct. 274 275 276 277 278 98 220 251 252 253 254 281 282 283 284 314 1041 42 7 0 101 131 162 192 315 194 1344 14 45 B 104 287 288 133 134 135 136 137 138 164 165 166 167 168 169 - 107 79 T1O 140 141 171 In - 113143 267 2 97 328 85 330 331 116 117 118 119 120 - 146 147 148 149 150 151 177 178 179 180 181 - - - - *Often referred to as a Julian calendar. 88 89 90 208 209 210 211 212 239 240 241 242 243 269 270 271 272 273 - 299 300 301 302 303 304 333 334 - 363 364 365
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