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Given the following information, calculate the amount of interest due on October 1st (assume 365 days a year and October 1st is 274th day): Farmer
Given the following information, calculate the amount of interest due on October 1st (assume 365 days a year and October 1st is 274th day):
- Farmer borrows 640,746 on January 1st
- Interest rate of 0.07 with daily interest charged
- Farmer pays 57,422 on March 1st
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
