Determine the exact and ordinary simple interest on a 180-dayloan of $10000 at 6%.Exact Interest is $Blank 1 and Ordinary Interest is $ Blank 2.Blank 1 Add your answerBlank 2Add your answer

Given information, Principal = $10000 Rate = 6% Time = 180 days Exact interest = (principal * rate *…

Answered: Determine the exact and ordinary simple…

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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Determine the exact and ordinary simple interest on a 180-day loan of $10000 at 6%. Exact Interest is $Blank 1 and Ordinary Interest is $ Blank 2. Blank 1 Add your answer Blank 2 Add your answer