Question: Lisa Kane borrowed $8,000 on an 8% 60-day note using the U.S. rule. On day 15 day Lisa paid $2,000 on the note. On day

Lisa Kane borrowed $8,000 on an 8% 60-day note using the U.S. rule. On day 15 day Lisa paid $2,000 on the note. On day 45 Lisa paid $1,000 on the note. What is the ending balance due at day 60? What is the total interest that she paid (for tax purposes)? Use ordinary interest.

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