Question
Max borrowed $2000.00 on 10%, 120 day note. After 45 days he paid $700. 30 days later he paid $630.00. Using ordinary interest - Determine
Max borrowed $2000.00 on 10%, 120 day note. After 45 days he paid $700. 30 days later he paid $630.00. Using ordinary interest - Determine the total interest using the U.S. Rule and Determine the ending balance using the U.S. Rule.
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
