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Bob borrowed $12,500 on a 180 day (ordinary interest) 13% note. Bob paid $8,000 toward the note on day 40. On day 110 he paid
Bob borrowed $12,500 on a 180 day (ordinary interest) 13% note. Bob paid $8,000 toward the note on day 40. On day 110 he paid an additional #3,000. Using the U.S. rule his adjustment balance after day 40, day 110, and the final balance due is:
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