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Sandy borrows $6,000 on a 10%, 120-day note. On the 60th day, she pays $2,000 on the note. If ordinary interest is applied, what is

Sandy borrows $6,000 on a 10%, 120-day note. On the 60th day, she pays $2,000 on the note. If ordinary interest is applied, what is the adjusted balance due to maturity?

  1. $4,100.00
  2. $4,198.63
  3. $4,300.00
  4. $4,168.33

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