Question: Given Principal $14,5ee, Interest Rate 8%, Time 24e days (use ordinary interest) Partial payments: On 108th day, $5,6ee On 18eth day, $3,300 6. Use the
Given Principal $14,5ee, Interest Rate 8%, Time 24e days (use ordinary interest) Partial payments: On 108th day, $5,6ee On 18eth day, $3,300 6. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round Intermediate calculations. Round your answer to the nearest cent.) Total interest cost | b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.) On 100th day On 180th day Balance ater the payment on 1001h day on 180th day Balance after the payment c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
