Question: A partial payment is made on the date(s) indicated. Use the United States rule to determine the balance due on the note at the date

A partial payment is made on the date(s) indicated. Use the United States rule to determine the balance due on the note at the date of maturity. The Effective Date is the date the note was written. Assume the year is not a leap year. Where appropriate, round interest calculations to the nearest cent.


Effec- tive Date Amount Date(s) Partial Payment(s) Prin- Maturity Date Rate cipal 2% Apr. 1 $1200 May 1 July 30 * $2400

Effec- tive Date Amount Date(s) Partial Payment(s) Prin- Maturity Date Rate cipal 2% Apr. 1 $1200 May 1 July 30 * $2400

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