1.You get a $5,000 180-day 11% consumer loan on May 18.You make a $2,000 payment on July 18.Calculate the balance you still owe after the payment.Assume a 365-day year.

2.You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year.How much will you owe on the maturity date?

3.About 2 months ago, you got a $2,000 180-day 13% consumer loan.Today you made a $1,000 payment, resulting in a balance of $1,042.74.Thirty-eight days later you pay the loan in full.Calculate the total amount of that payment.Assume a 365-day year.