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On September 12, Jody Jansen went to Sunshine Bank to borrow $2.900 at 8% interest. Jody plans to repay the loan on January 27. Assume
On September 12, Jody Jansen went to Sunshine Bank to borrow $2.900 at 8% interest. Jody plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use Days in a year table) a. What interest will Jody owe on January 27? (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest b. What is the total amount Jody must repay at maturity? (Do not round intermediate calculations. Round your answer to the nearest cent.) Maturity value Day of 31 28 31 30 31 30 31 31 30 31 30 month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 1 1 32 60 91 121 152 182 213 244 274 305 2 2 33 61 92 122 153 183 214 245 275 306 3 3 34 62 93 123 154 1841 215 246 276 307 4 4 35 63 94 124 155 185 216 247 277 308 5 36 64 95 125 156 186 217 248 278 309 6 6 37 65 96 126 157 187 218 249 279 310 7 38 66 97 127 158 188 219 250 280 311 8 8 39 67 98 128 159 189 220 251 281 312 9 9 40 68 99 129 160 190 221 252 282 313 10 10 41 69 100 130 161 191 222 253 283 314 11 11 42 70 101 131 162 192 223 254 284 315 12 12 43 71 102 132 163 193 224 255 285 316 13 13 44 72 103 133 164 194 225 256 286 317 14 14 45 73 104 134 165 195 226 257 287 318 15 15 46 74 105 135 166 196 227 258 288 319 16 16 47 75 106 136 167 197 228 259 289 320 17 17 48 76 107 137 168 198 229 260 290 321
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