On April 2, Kelly borrowed $15 000 on a demand note with an interest rate of 9%

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On April 2, Kelly borrowed $15 000 on a demand note with an interest rate of 9% per annum. Payments were made of $2800 on May 14 and $2400 on June 19. How much was the final payment made on August 3?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:19 AM

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On April 2, Kelly borrowed $15 000 on a demand note with an interest rate of 9% per annum. Payments were made of $2800 on May 14 and $2400 on June 19. How much was the final payment made on August 3?
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On April 2, Kelly borrowed $15 000 on a demand note with an interest rate of 9%

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April2 Original balance 1500000 May 14 Partial payment 280000 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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