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On September 1 2 , Jody Jansen went to Sunshine Bank to borrow $ 4 , 4 0 0 at 1 0 % interest. Jody
On September Jody Jansen went to Sunshine Bank to borrow $ at interest. Jody plans to repay the loan on January Assume the loan is on ordinary interest. Use Days in a year table
Required:
a What interest will Jody owe on January
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
b What is the total amount Jody must repay at maturity?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
a Interest
b Maturity value
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