Question: Max Wholesaler borrowed, $ 5 , 5 0 0 on a 1 0 % , 1 2 0 - day note. After 4 5 days,

Max Wholesaler borrowed, $5,500 on a 10%,120-day note. After 45 days, Max paid $1,925 on the note. Thirty days later, Max pald an additional $1,650. Use ordinary interest.
Required:
a. Determine the total interest using the U.S. Rule,
Note: Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.
Total interest amourt
b. Determine the ending balance due using the US. Rule.
Note: Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.
Ending balance dipe
Max Wholesaler borrowed, $5,500 on a 10%,120-day note. After 45 days, Max paid $1,925 on the note. Thirty days later, Max pald an additional $1,650. Use ordinary interest.
Required:
a. Determine the total interest using the U.S. Rule,
Note: Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.
Total interest amourt
b. Determine the ending balance due using the US. Rule.
Note: Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.
Ending balance dipe
Max Wholesaler borrowed, $ 5 , 5 0 0 on a 1 0 % ,

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