Question
Given Principal $12,000, Interest Rate 10%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $4,200 On 180th day, $2,600 a. Use the
Given | Principal $12,000, Interest Rate 10%, Time 240 days (use ordinary interest) | |
Partial payments: | On 100th day, $4,200 | |
On 180th day, $2,600 |
a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
The partial payments are to the right. On the 100th and 180th day.
The value as said on my ORIGINAL post if you scroll to the RIGHT at the TOP is on the 100th day $4,200 and on the 180th day $2,600
this is all the information I was given*
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