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-   -   Calculate the interest on a 90-day, 9% note for 36000 (https://www.askmehelpdesk.com/showthread.php?t=792392)

  • May 19, 2014, 04:03 PM
    petercei
    Calculate the interest on a 90-day, 9% note for 36000
    Use a 360-day year to compute interest
  • May 19, 2014, 04:25 PM
    smoothy
    Since this is homework... what did you get for an answer and how did you go about it.
  • May 19, 2014, 04:41 PM
    paraclete
    there is a disconnect here, that is basic mathematics; let me see, 9%; that's 0.09 or 9/100, and then 90 days; that's 0.25 of a year or if you want to be more precise 90/365, so you string it all together and throw in 36000, and if you don't get it at this point don't study accounting because it only gets harder from here

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