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A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date
A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) The year isn't a leap year.
| Principal | Rate | Effective Date | Partial Payment | Maturity Date | |
|---|---|---|---|---|---|
| Amount | Date | ||||
| $2400 | 3.5% | Jan. 1 | $1000 | May 1 | July 31 |
What is the balance due on the note at the date of maturity?
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