Question: Sandy Day borrowed $ 5 , 0 0 0 on a 1 2 0 - day, 5 % note. Sandy paid $ 5 0 0

Sandy Day borrowed $5,000 on a 120-day, 5% note. Sandy paid $500 toward the note on day 60. On day 90 she paid an additional $500. Using the U.S. Rule, her adjusted balance after the first payment is:

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