Determine the accumulated and the discounted value of $1000 over 55 days at 7% using both ordinary and exact simple interest. (Do not round intermediate calculations. Round your answers to 2 decimal places.) S P Ordinary interest Exact interest 69 69 SAS

Determine the accumulated and the discounted value of $1000 over 55 days at 7% using both ordinary and exact simple interest. (Do not round intermediate calculations. Round your answers to 2 decimal places.) S P Ordinary interest Exact interest 69 69 SAS

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 1P

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Question

Determine the accumulated and the discounted value of $1000 over 55 days at 7% using both ordinary and
exact simple interest. (Do not round intermediate calculations. Round your answers to 2 decimal
places.)
S
Ordinary interest
S
Exact interest
$

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