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14. You take out a $5,000 loan at 4% on January 1st, 2023. On March 1st, you make a partial payment of $2,000. Use
14. You take out a $5,000 loan at 4% on January 1st, 2023. On March 1st, you make a partial payment of $2,000. Use the United States rule to determine the amount required to pay off the loan on May 1st.
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The United States Rule also known as the ordinary interest or exact interest method calcu...
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A Survey of Mathematics with Applications
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
10th edition
134112105, 134112342, 9780134112343, 9780134112268, 134112261, 978-0134112107
