The amount of interest for the first 70 days was found to be $204.17. Subtract this accumulated interest from the first partial payment of $1,500. This difference will be the amount by which the principal is reduced. amount of payment to reduce principal = partial payment − accumulated interest = $1,500 − $204.17 = $ The new adjusted principal will be the original loan amount, $15,000, reduced by the amount found above. Find the new adjusted principal. new adjusted principal = original principal − amount of payment to reduce principal = $15,000 − $ = $

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