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You have a single payment loan for 10500.00 for 123 days at 15 percent annual interest. Calculate interest due and the repayment amount .?
Wiki User
∙ 14y ago
Interest =.15/365*123*10500 = $530.75 (approximate, depends on composite or accumulation terms)
Total = $10,500.00 + 530.75 = $11,030.75 (approximate)
Wiki User
∙ 14y ago
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