Barbara White owes $79,200 on a 6%, 150-day note. On day 45, she pays $23,760 on...

 

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Barbara White owes $79,200 on a 6%, 150-day note. On day 45, she pays $23,760 on the note. On day 60, she pays an additional $39,600. Based on the U.S. Rule, calculate the following. (Use a 360-day year, and round all answers to the nearest cent.) 1. Adjusted balance after the first payment: 2. Adjusted balance after the second payment: 3. Balance at maturity: $0 Barbara White owes $79,200 on a 6%, 150-day note. On day 45, she pays $23,760 on the note. On day 60, she pays an additional $39,600. Based on the U.S. Rule, calculate the following. (Use a 360-day year, and round all answers to the nearest cent.) 1. Adjusted balance after the first payment: 2. Adjusted balance after the second payment: 3. Balance at maturity: $0

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Answer To calculate the adjusted balances and the balance at maturity using the US Rule well conside... View the full answer