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Meghan Brown borrowed $50,000, on a 90-day 10% note. After 55 days, Brown made an initial payment of $9,000. On day 70, Brown made an
Meghan Brown borrowed $50,000, on a 90-day 10% note. After 55 days, Brown made an initial payment of $9,000. On day 70, Brown made an additional payment of $10,000. Assuming the U.S. Rule, what is the adjusted balance of the first payment? Use 360 days.
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