Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $5,600 On 180th day, $3,300 a. Use the U.S. Rule to solve for total interest cost. (Use...

Given	Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest)
	Partial payments:	On 100th day, $5,600
		On 180th day, $3,300

a.
Use the U.S. Rule to solve for total interest cost.
(Use 360 days a year. Do not round intermediate calculations. Round
your answer to the nearest cent.)

Solve for Total Interest Cost:

b.
Use the U.S. Rule to solve for balances.
(Use 360 days a year. Do not round intermediate calculations. Round
your answers to the nearest cent.)

	On 100th day	On 180th day
Balance after the payment

c.
Use the U.S. Rule to solve for final payment.
(Use 360 days a year. Do not round intermediate calculations. Round
your answer to the nearest cent.)

Solve for Final Payment:

Jun 10, 2022

SOLUTION.PDF

Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $5,600 On 180th day, $3,300 a. Use the U.S. Rule to solve for total interest cost. (Use...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment