on Jul 10th, you sign a $1500 note with simple interest of 8% and a maturity date of Novmber 28th. You make a partial payment of $575 on July 22nd. How much will you owe on the date of maturity?

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Answered Same DayDec 31, 2021

Answer To: on Jul 10th, you sign a $1500 note with simple interest of 8% and a maturity date of Novmber 28th....

Robert answered on Dec 31 2021

129 Votes

Answer to TTs180612_Dia32670_1
Considering 8% Annual Interest rate
On 10th July Principle = $1500
Till 22nd July the simple Interest (13 days)= 1500x(13/365)x(8/100) = $4.27
Total Amount = 1500+4.27 = $1504.27
Amount Paid = $575
Remaining Amount = 1504.27-575 = $ 929.27
Simple...

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on Jul 10th, you sign a $1500 note with simple interest of 8% and a maturity date of Novmber 28th. You make a partial payment of $575 on July 22nd. How much will you owe on the date of maturity?

Answer To: on Jul 10th, you sign a $1500 note with simple interest of 8% and a maturity date of Novmber 28th....

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