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On February 8, Manuel borrowed $700 from his uncle at 6% per annum calculated on the daily balance. He gave his uncle 7 cheques for
On February 8, Manuel borrowed $700 from his uncle at 6% per annum calculated on the daily balance. He gave his uncle 7 cheques for $100 dated the 8th of each of the next 7 months starting March 8 and a cheque dated September 8 for the remaining balance to cover payment of interest and repayment of principal. Construct a complete payment schedulee including the totalling of the Amount paid, Interest paid and Principal repaid
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