8.

Given		Principal: $10,000, 8%, 240 days
		Partial payments:	On 100th day, $4,800
			On 180th day, $2,900

a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

b. Use the U.S. Rule to solve for principal balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)

c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

9. Bill Blank signed an $8,650 note at Citizens Bank. Citizens charges a 4.50% discount rate. Assume the loan is for 320 days. a. Find the proceeds. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)