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On January 26, 2013, Sarah borrows $6400 at 2.5%. She pays $1232 on February 23, 2013; $1705 on June 8, 2013; $881 on August 21,

On January 26, 2013, Sarah borrows $6400 at 2.5%. She pays $1232 on February 23, 2013; $1705 on June 8, 2013; $881 on August 21, 2013. What is the balance on October 19, 2013, by:

Merchants Rule:

Declining Balance Method:

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