On september 12 jody jansen went to sunshine bank to borrow, Ask an Expert

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On September 12, Jody Jansen went to Sunshine Bank to borrow $3,000 at 5% interest. Jody plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use Days in a year table.) a. What interest will Jody owe on January 27? (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest $ b. What is the total amount Jody must repay at maturity? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
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