2A)

2B)

Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the amount of interest for the following loan. Round your answers to the nearest cent. Rate (%) Exact Interest Ordinary Interest Principal $120,000 Time (days) 16 8 Find the amount of interest and the maturity value of the following loan. Use the formula MV = P +I to find the maturity value. Round your answers to the nearest cent. Principal Rate (%) Time Interest Maturity Value $110,000 81 8 months