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katrin2010 [14]
2 years ago
14

The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.)

Business
2 answers:
Agata [3.3K]2 years ago
7 0

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment (PV)= $7,500

Interest rate= 0.06/360= 0.00017 daily

Number of periods= 90 days

<u>To calculate the interest earned, we need to use the following formula:</u>

I= [PV*(1+i)^n] - PV

I= [7,500*(1.00017^90)] - 7,500

I= $115.62

ICE Princess25 [194]2 years ago
6 0

Answer:

$112.50

Explanation:

Amount X Rate X Time =

(Principal of the note x Annual Interest Rate x Time expressed in fraction of year (360 days using the "banker's rule") = Interest)

$7,500 x 0.06 = 450

450 x 90 / 360 = $112.50

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Answer:

TRUE

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Klio2033 [76]

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<h3>What is HIPAA rule?</h3>

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