Find the Balance Due on the Maturity Date of the Note

question 108

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: $60,000
Interest: 10%
Time (days) : 180
Partial payment: $20,000 on day 60
$20,000 on day 120

• A)$22,044.72; $2044.72
• B)$23,866.67; $3866.67
• C)$24,022.42; $4022.42
• D)$21,652.18; $1652.18

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