Find the Ordinary Interest to the Nearest Cent

question 46

Multiple Choice

Find the ordinary interest to the nearest cent.
-$3,570 at 9% for 338 days

• A)$321.30
• B)$301.67
• C)$300.77
• D)$3,871.67

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Definitions:

Net Working Capital

Net working capital is a measure of a company's liquidity, calculated as the difference between its current assets and current liabilities, indicating its short-term financial health.

Fixed Assets

Long-term tangible assets used in the operation of a business and not expected to be converted to cash in the short term.

Depreciation

The process of allocating the cost of a tangible or physical asset over its useful life, representing wear and tear, deterioration, or obsolescence.

Operating Cash Flow

Operating cash flow refers to the cash generated from the normal operating activities of a business within a specific time period.