Question
The simple interest charged on a short-term loan of $100,000 at 3% per annum was $2500. What was the term expressed in days (rounded off)
The simple interest charged on a short-term loan of $100,000 at 3% per annum was $2500. What was the term expressed in days (rounded off) using exact interest?
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
