Question
Alex borrowed $8750 on May 25, 2020. He paid the loan back on demand: $3100 on July 17, 2020, $2700 on November 14, 2020, and
Alex borrowed $8750 on May 25, 2020. He paid the loan back on demand: $3100 on July 17, 2020, $2700 on November 14, 2020, and the balance on January 29, 2021. The rate of interest on the loan was 4% p.a. How much did he pay on January 29,2021?
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740460, 978-1119740469
