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Compute the ordinary interest (360-day year) and the total amount of the loan in the following problems. If required, round answers to the nearest cent.
Compute the ordinary interest (360-day year) and the total amount of the loan in the following problems. If required, round answers to the nearest cent.
| Principal, Rate, and Time | Ordinary Interest | Amount |
| a. $10,500 at 10% for 60 days | $ | $ |
| b. $4,500 at 6% for 330 days | $ | $ |
| c. $2,500 at 8% for 240 days | $ | $ |
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
5th Edition
0912503351, 9780912503356
