Principal (=$ 6,800), rate (=11.9 %), term is 200 days, partial payment of ($ 4,000) made after

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Principal $=\$ 6,800$, rate $=11.9 \%$, term is 200 days, partial payment of $\$ 4,000$ made after 100 days.

Find the payoff value of the loan with the given principal, annual simple interest rate, term, partial payment, and time at which the partial payment was made.

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Contemporary Mathematics

ISBN: 9781711470559

1st Edition

Authors: OpenStax

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Question Posted: May 29, 2024 08:04 AM

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Principal (=$ 6,800), rate (=11.9 %), term is 200 days, partial payment of ($ 4,000) made after

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Contemporary Mathematics

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