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I need help with this question. Max Wholesaler borrowed $6,000 on a 5%, 120-day note. After 45 days, Max paid $2, 100 on the note.
I need help with this question.
Max Wholesaler borrowed $6,000 on a 5%, 120-day note. After 45 days, Max paid $2, 100 on the note. Thirty days later, Max paid an additional $1, 800. Use ordinary interest. Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answers to the nearest cent.) Total interest amount $ _______ Determine the ending balance due use the U.S. Rule.(Do not round intermediate calculations. Round your answers to the nearest cent.) Ending balance due $ __________Step by Step Solution
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