Question: Henry borrows $850 at 14.5% simple interest. He makes a partial payment of $170 at the end of 10 month(s), and a partial payment of

Henry borrows $850 at 14.5% simple interest. He makes a partial payment of $170 at the end of 10 month(s), and a partial payment of $340 at the end of 14 months. Determine the amount required to settle the debt at the end of 20 months using (a) Merchant's Rule and (b) U.S. Rule.

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