Question: Emily Evergreen borrows $ 2 0 , 0 0 0 on a 9 . 5 % simple interest rate, 1 8 0 - day note.

Emily Evergreen borrows $20,000 on a 9.5% simple interest rate, 180-day note. On the 90th day, Emily pays $12,000 on the note. If ordinary interest is applied:a. What is Emilys adjusted principal after the partial payment? b. What is the adjusted balance due at maturity? c. What is the amount of the interest saved by making the partial payment?

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