Max borrowed $2000.00 on 10%, 120 day note. After 45 days he paid $700. 30 days later
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Question:
Max borrowed $2000.00 on 10%, 120 day note. After 45 days he paid $700. 30 days later he paid $630.00. Using ordinary interest - Determine the total interest using the U.S. Rule and Determine the ending balance using the U.S. Rule.
Expert Answer:
To calculate the total interest and ending balance using the US Rule for the given scenario we need ... View the full answer
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