Question: Given Principal $ 1 4 , 5 0 0 , Interest Rate 8 % , Time 2 4 0 days ( use ordinary interest )

Given
Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest)
Partial payments: On 100 th day, $5,600; On 180 th day, $3,300
a. Use the U.S. Rule to solve for total interest cost.
Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.
\table[[Total interest cost,$,773.33]]
b. 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.
\table[[,On 100th day,On 180th day],[Balance after the payment,,]]
 Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary

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