Question
A loan of 4000 is made for a period of 15 months at a simple discount rate of 7%, what future amount is due at
A loan of 4000 is made for a period of 15 months at a simple discount rate of 7%, what future amount is due at the end of the loan period?
a) 4373.33
b) 4301.08
c) 4401.43
d) 4411.76
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Cornerstones of managerial accounting
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
5th edition
978-1305302327, 130530232X, 978-1133943983
