What Was the Principal Amount of a Loan at 9

question 170

Short Answer

What was the principal amount of a loan at 9.5% if $67.78 of interest accrued from October 28, 2013 to April 14, 2014?

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Definitions:

Net Sales

The total revenue generated from sales of goods or services, minus returns, allowances, and discounts.

Price-Earnings Ratio

A measure used to value a company that shows how much investors are willing to pay per dollar of earnings.

Earnings Per Share

A company's profit divided by the outstanding shares of its common stock, indicating profitability.

Market Price

The ongoing market price for an asset or service available for purchase or sale.