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Please help!!!!!!
I need to find the due date and maturity value for the following:
Date made/Oct. 7
Face Value/$18,000
Term of Loan/200 days
Rate/9 3/4
I looked at the chart for the number of the days of the year and got 280 days for Oct. 7th
I then added 200 days to 280 daya and came up with 480..I'm lost because I know that there are not 480 days in a year.
How do I make 9 and three fourths a decimal?
Please help!!!!!!
I need to find the due date and maturity value for the following:
Date made/Oct. 7
Face Value/$18,000
Term of Loan/200 days
Rate/9 3/4
I looked at the chart for the number of the days of the year and got 280 days for Oct. 7th
I then added 200 days to 280 daya and came up with 480..I'm lost because I know that there are not 480 days in a year.
How do I make 9 and three fourths a decimal?