Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value&quo…

Question

Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.)

Principal: 1,000

Interest rate: 8%

Date borrowed: March 8

Date repaid: June 9

Exact time:

Interest:

Maturity value:

Answer 1

75

Explanation: