Question: Drill Problem 10-13 (Algo) [LU 10-3 (1)] Given Principal $11,500, Interest Rate 11%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $4,400;

Drill Problem 10-13 (Algo) [LU 10-3

(1)] Given Principal $11,500, Interest Rate 11%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $4,400; On 180th day, $2,700 Use the U.S. Rule and find total interest cost.

Find the balance after payments on the 100th day and on 180th day .(Use the U.S. Rule to solve for balances.

Note: Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)

find final payments. ( Use the U.S. Rule to solve for final payment.

Note: Use 360 days a year. Do not round intermediate calculations. Round your answerto the nearest cent.

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