4) You borrow $2500 on September 3rd this year. Your demand loan carries an interest rate...

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4) You borrow $2500 on September 3rd this year. Your demand loan carries an interest rate of 7.46%. You make partial payments of $500 on October 15th and $1575 on November 17th. You want to make a final payment of the remaining outstanding balance on November 309. What is the size of your final payment? Use the declining balance method. D) $851.11 E) $449.07 A) $450.02 B) $399.76 C) $612.84 4) You borrow $2500 on September 3rd this year. Your demand loan carries an interest rate of 7.46%. You make partial payments of $500 on October 15th and $1575 on November 17th. You want to make a final payment of the remaining outstanding balance on November 309. What is the size of your final payment? Use the declining balance method. D) $851.11 E) $449.07 A) $450.02 B) $399.76 C) $612.84

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To compute for the final payment we have to determine first the portion of the payments made on Octo... View the full answer