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The sum of $11,000 is borrowed for 150 days at an annual simple interest rate of 7%. Calculate the maturity value by the exact method
The sum of $11,000 is borrowed for 150 days at an annual simple interest rate of 7%. Calculate the maturity value by the exact method and by the ordinary method. (Round your answers to two decimal places.)
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
