Skysong, Inc. has a 30 -day note that carries an annual interest rate of 10 %. If

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Skysong, Inc. has a 30-day note that carries an annual interest rate of 10%. If the amount of the total interest on the note is equal to $1200, then what is the principal of the note? (Use 360 days for calculation.)

$38400

$15000

$144000

$86400

Related Book For answer-question

Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Posted Date: Feb 08, 2022 05:16 PM

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Skysong, Inc. has a 30 -day note that carries an annual interest rate of 10 %. If

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Fundamentals of Investments Valuation and Management

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