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Given the following information about a loan of $1000 at 16%: on January 8. Alex borrows a loan of $1000 on April 12, he pays

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Given the following information about a loan of $1000 at 16%: on January 8. Alex borrows a loan of $1000 on April 12, he pays $350 on August 10, he pays $20 . on October 3, he pays $400 What is the balance due on December 15 using The Merchant's Rule and exact time? Multiple Choice 327.67 1400 1328

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