A partial payment is made on the date(s) indicated. Use the United States rule to determine the
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A partial payment is made on the date(s) indicated. Use the United States rule to determine the balance due on the note at the date of maturity. The Effective Date is the date the note was written. Assume the year is not a leap year. Where appropriate, round interest calculations to the nearest cent.
Transcribed Image Text:
Effec- Partial Payment(s) Maturity Prin- tive cipal Rate Date Amount Date(s) Date $5000 14% Oct. $800 Nov. 15 Jan. 1 15 $800 Dec. 15
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1015 to 1115 31928831 days 5000 014 6028 31 360 ...View the full answer
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Related Book For
A Survey Of Mathematics With Applications
ISBN: 9780135740460
11th Edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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