Answered step by step
Verified Expert Solution
Question
1 Approved Answer
james co. Borrowed $1200 on a 90 day 11% note. After 15 days , James paid $200 toward the note. James made an additional payment
james co. Borrowed $1200 on a 90 day 11% note. After 15 days , James paid $200 toward the note. James made an additional payment of $150, 40 days later. What is the final balance due and total interest for the u.s rule? Use ordinary interest ( use bond basis)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started