Question
Sean borrowed $2,000 from Dagon on November 5, 2019 and agreed to repay the debt with simple interest at the rate of 8.5% on June
Sean borrowed $2,000 from Dagon on November 5, 2019 and agreed to repay the debt with simple interest at the rate of 8.5% on June 3, 2020. What is the maturity value of the loan? How much interest was owed on June 3?
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
