Find the Balance Due on the Maturity Date of the Note

question 7

Multiple Choice

Find the balance due on the maturity date of the note. Find the total amount of interest paid on the note. Use the United States Rule.
-Principal: $3000
Interest:
Time (days) : 60
Partial payment: $1200 on day 30

• A)$1834.15; $34.15
• B)$1924.87; $124.87
• C)$1644.24; $44.24
• D)$1812.75; $34.00

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Definitions:

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