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OpenStudy (anonymous):
A $1,000 loan has an 8% interest rate. The principal is borrowed on March 8 and repaid on June 9. Find: (a) the exact time, (b) interest using ordinary interest, (c) maturity value. i got 93 days, $20.67 interest, and 1020.67 for maturity value, just want to verify I am doing this correctly. Thanks for any help!
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