Question
A 160-day note has a Face Value of $11,000 and a rate of 9.5%. A partial payment of $2,100 is made after 30 days. A
A 160-day note has a Face Value of $11,000 and a rate of 9.5%. A partial payment of $2,100 is made after 30 days. A second partial payment of $3,000 is made 15 days after the first one. Find the amount due at maturity.
a. $6,205.42
b. $6,025.42
c. $6,502.42
d. $6,250.42
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S11000 face value x 9i5 interert ...
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
