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Question 2 (20 points) A- A businessman borrowed $ 250,000 from a Bank at a simple interest rate of 6.5% on June 12, the loan
Question 2 (20 points) A- A businessman borrowed $ 250,000 from a Bank at a simple interest rate of 6.5% on June 12, the loan is due on September 20. points) a) Find the number of days of the loan from June 12 until September 20. b) Using exact interest, find the interest amount (1=?). B- A trader borrowed $ 12,000 on a 120-day 4% simple interest note. He paid $ 3,000 toward the note on day 35. On day 80 he paid an additional $ 4,000. Assume 360-day year, what is his ending balance due? (7 points) C- A service provider borrowed $275,000 from a local Bank. The loan was for 15 months at a simple interest rate of 9.5%. What is the interest and maturity value? (6 points)
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