Question
Doris Davis borrowed $8,200 on March 5 for 90 days at 8 3/4%. After 32 days, Doris made a payment on the loan of $2,700.
Doris Davis borrowed $8,200 on March 5 for 90 days at 8 3/4%. After 32 days, Doris made a payment on the loan of $2,700. On the 65th day, she made another payment of $2,500. What is her final payment if you use the U.S. Rule with ordinary interest?
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Absolutely I can help you calculate Doris final payment using the US Rule with ordinary interest Heres the breakdown Daily Interest Rate 875 100 365 0002397 Interest for Period 1 32 days 8200 0002397 ...
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
