Chapter 7 declining balance and adjusted daily balance If you borrow $2,000 and you are going to make 4 equal payments throughout the year and your stated interest rate is 6.5% what is the total paid each month and the total amount paid if the financial institution changes you on the declining balance? 2. If your financial institution charges you on the adjusted daily balance method how much is the adjusted daily balance amount if you start out with a balance of $500.00, on day 10 you pay $200.00 towards the principal amount owed, on day 14 you purchase $65.00 of items and your card has an APR of 24%? Chapter 7 declining balance and adjusted daily balance If you borrow $2,000 and you are going to make 4 equal payments throughout the year and your stated interest rate is 6.5% what is the total paid each month and the total amount paid if the financial institution changes you on the declining balance? 2. If your financial institution charges you on the adjusted daily balance method how much is the adjusted daily balance amount if you start out with a balance of $500.00, on day 10 you pay $200.00 towards the principal amount owed, on day 14 you purchase $65.00 of items and your card has an APR of 24%