Find the Adjusted Balance Due at Maturity for a 180

question 10

Multiple Choice

Find the adjusted balance due at maturity for a 180 day note of $38,400 at 11.8% ordinary interest if a partial payment of $20,000 is made on the 100th day of the loan.

• A) $19,658.67
• B) $1258.67
• C) $20,174.16
• D) $515.49

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