3A)

3B)

Suppose you take out a loan for 120 days in the amount of $15,000 at 9% ordinary interest. After 40 days, you make a partial payment of $2,000. After another 60 days, you make a second partial payment of $1,000. What is the final amount due on the loan? James signed a simple discount note for $10,000. The discount rate is 5%, and the term of the note is 18 months. What is the effective interest rate? Round your answer to the nearest tenth percent. Do not enter the percent symbol in your answer. 5.41 9