Question: On March 8 , Manuel borrowed $ 7 0 0 . 0 0 from his uncle at 4 . 3 % per annum calculated on

On March 8, Manuel borrowed $700.00 from his uncle at 4.3% per annum calculated on the daily balance.
He gave his uncle six cheques for $110.00 dated the 8 th of each of the next six months starting April 8 and
a cheque dated October 8 for the remaining balance to cover payment of interest and repayment of
principal. Construct a complete repayment schedule for the loan including totals for Amount Paid,
Interest Paid, and Principal Repaid.
On March 8, Manuel borrowed $700.00 from his uncle at 4.3%

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