Question
A demand loan of $20,000 on September 1, 2014 at 7% p.a. simple interest was settled by a payment of $600 on February 28, 2015
A demand loan of $20,000 on September 1, 2014 at 7% p.a. simple interest was settled by a payment of $600 on February 28, 2015 and the outstanding balance on April 26, 2015.Using the declining balance method, calculate the amount of the last payment.
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
