) Janet borrows $4,000 on October 20, 2020. If the simple interest rate is 12%, then how much needs to be repaid on May 11, 2021?
) Janet borrows $4,000 on October 20, 2020. If the simple interest rate is 12%, then how much needs to be repaid on May 11, 2021?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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1) Janet borrows $4,000 on October 20, 2020. If the simple interest rate is 12%, then how much needs to be repaid on May 11, 2021?
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