Legitimate Financial Services made a loan at 9.75% interest for 252 days. If the amount of interest was $210.50, use the exact interest method to find the amount of principal borrowed. (Round to the nearest whole dollar amount.)00$2,159$2,999$3,127$3,388

The objective of this question is to find the principal amount borrowed given the interest rate, the…

Answered: Legitimate Financial Services made a…

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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Legitimate Financial Services made a loan at 9.75% interest for 252 days. If the amount of interest was $210.50, use the exact interest method to find the amount of principal borrowed. (Round to the nearest whole dollar amount.) 00 $2,159 $2,999 $3,127 $3,388