A $10,000 payment on March 15S1U1P1thS1S1P0 was not paid. Instead $10,158.63 was paid earning 6.4% interest compounded monthly. The payment was made on June 13.

Question

Zybrea Knight · Accepted Answer

Final Answer : True, Explanation :  The payment of $10,158.63 includes the original $10,000 plus interest accrued over approximately 3 months at a 6.4% annual rate, compounded monthly, which matches the scenario described.

A $10,000 payment on March 15^th was not paid. Instead $10,158.63 was paid earning 6.4% interest compounded monthly. The payment was made on June 13.

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Learning Objectives

Related questions

A $10,000 payment on March 15th was not paid. Instead $10,158.63 was paid earning 6.4% interest compounded monthly. The payment was made on June 13.

Definitions

Learning Objectives

Learning Objectives

Related questions

A $10,000 payment on March 15^th was not paid. Instead $10,158.63 was paid earning 6.4% interest compounded monthly. The payment was made on June 13.