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On March 20, 2020, Bill borrows $625 for 45 days at 14.25% simple interest. Remember that for all simple interest problems use Banker's rule unless told otherwise.
Problem (a) State the maturity date. (Use the form 00-00-0000. For example: March 20, 2020 would be expressed as 03-20-2020.)
Problem (b) Determine the amount of simple interest that Bill pays on the loan.
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Annual interest was received on December 31. The investor's interest earned for the year would be higher if the bond was purchased at?
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Brian Snow and Wendy Waite formed a partnership on July 1, 2007. Brian invested $20,000 cash, inventory valued at $15,000, and equipment valued at $67,000. Prepare journal entries for each of the following events. Show computations. Formation of the ..
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