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9. a. Invoice contains the following terms- cash 4, 1/22, n/44. Determine the interest rate equal to 1/22 - Round answer to two decimal places.4.
9. a. Invoice contains the following terms- cash 4, 1/22, n/44. Determine the interest rate equal to 1/22 - Round answer to two decimal places.4.
b. Account earns 5% daily interest provided it maintain a balance in excess of $10,000.00. The balance on December 1 st was $10,700.00. There was a withdrawl of $1,100.00 on December 5th, a deposit of $3,000.00 on Dec 15th and again a withdrawal of $1,050.00 on December 20th. Determine the interest earned for December month ..
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