Sandy borrows $6,000 on a 10%, 120-day note. On the 60th day, she pays $2,000 on the
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Question:
Sandy borrows $6,000 on a 10%, 120-day note. On the 60th day, she pays $2,000 on the note. If ordinary interest is applied, what is the adjusted balance due to maturity?
- $4,100.00
- $4,198.63
- $4,300.00
- $4,168.33
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt , Eugene F. Brigham
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