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Billy borrowed $14,140.00 to buy a car. If interest was charged on the loan at 9.06% p.a., how much interest would Billy have to pay in 240 days? The interest charged would be (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Billy borrowed $14,140.00 to buy a car. If interest was charged on the loan at 9.06% p.a., how much interest would Billy have to pay in 240 days? The interest charged would be (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Billy borrowed $14,140.00 to buy a car. If interest was charged on the loan at 9.06% p.a., how much interest would Billy have to pay in 240 days? The interest charged would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:Billy borrowed $14,140.00 to buy a car. If interest was charged on the loan at 9.06% p.a., how much interest would Billy have to pay in 240 days? The interest charged would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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