Answered: What rate of interest did you receive…

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

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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Question

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601? Select one: a. 11.99% b. 11.29% c. 11.49% d. 11.94% e. 11.69%

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