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01. A woman borrows $1,000 on January 8 at 16%. She pays $350 on April 12, $ 20 on August 10, and $400 on October

01. A woman borrows $1,000 on January 8 at 16%. She pays $350 on April 12, $ 20 on August 10, and $400 on October 3. What is the balance due on December 15 using Merchant method? (7 marks)

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