A merchant borrowed $3,000 for 320 days at 11% (assume a 360-day year). Use the U.S. Rule to complete the following table:

Payment number Payment day Amount paid Interest to date Principal payment Adjusted balance

1 75 $500 __________________ ___________________ ___________________

2 160 $750 __________________ ___________________ ___________________

3 220 $1,000 __________________ ___________________ ____________________

4 320 _________ ___________________ ___________________ ____________________