Alex enrollsinculinary schoolforFrenchcuisine. Heneeds$4200immediatelyto securehisplace. He takesouta150-dayloanat8.5%onMarch 2. Later,hisemployerisso...

Alex enrollsinculinary schoolforFrenchcuisine.Heneeds$4200immediatelyto securehisplace.He takesouta150-dayloanat8.5%onMarch 2.Later,hisemployerisso impressedwithhiscommitmentthathe contributes$500towardsthetuition whichAlex usesto make apartialpaymentonApril25.HowmuchwillAlex oweonthedatetheloanisdue? 1. Determinetheduedateoftheloan.(UsetheDaysinEachMonthtable.) 2. Determinethenumberofdaysfromthestartoftheloantothedayofpartialpayment. 3. Determinetheinterestfromthedateoftheloantothedayofthepartialpayment. 4. Determinetheamountofthepartialpaymentappliedtoprincipal. 5. Determinethebalanceoftheloanafterthepartialpayment. 6. Determinetheinterestonthedayofpartialpaymenttodayofmaturity. 7. DeterminetheamountAlex mustpayonthedatetheloanisdue