Question: Malinda Levi borrows $12,000 on a 9.5%, 90-day note. On the 30th day, Malinda pays $4,000 on the note. If ordinary interest is applied, what

Malinda Levi borrows $12,000 on a 9.5%, 90-day note. On the 30th day, Malinda pays $4,000 on the note. If ordinary interest is applied, what is Malinda's adjusted principal after the partial payment? What is the adjusted balance due at maturity? What is the amount of interest saved by making the partial payment?

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