Roger Rong borrowed $12,000 on 120 - day 11 percent note. Roger paid $4,000 toward the...
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Roger Rong borrowed $12,000 on 120 - day 11 percent note. Roger paid $4,000 toward the note on day 40. On day 110 he paid an additional $3,000. Using the U.S. Rule his adjusted balance after the 1st payment is Select one: a. $3,853.33 b. $8,146.67 c. $12,000.00 Ⓒd. $8,000.00 e. none of the above Roger Rong borrowed $12,000 on 120 - day 11 percent note. Roger paid $4,000 toward the note on day 40. On day 110 he paid an additional $3,000. Using the U.S. Rule his adjusted balance after the 1st payment is Select one: a. $3,853.33 b. $8,146.67 c. $12,000.00 Ⓒd. $8,000.00 e. none of the above
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Answer rating: 100% (QA)
Answer d 800000 The adjusted balance after the first payment would be 8000 Afte... View the full answer
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date:
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