Question
Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the amount (in $) of interest for the loan.
Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the amount (in $) of interest for the loan. (Round your answers to two decimal places.)
| Principal | Rate (%) | Time (days) | Exact Interest | Ordinary Interest |
|---|---|---|---|---|
| $10,000,000 | 10 | 1 | $ _____ | $ ____ |
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Performance Measurement In Finance
Authors: John Knight, Stephen Satchell, Nathalie Farah
1st Edition
0750650265, 978-0750650267
