Find the Balance Due on the Maturity Date of the Note

question 38

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: $167
Interest: 12%
Time (days) : 30
Partial payment: $50 on day 20

• A)$120.70; $3.70
• B)$119.60; $2.60
• C)$118.50; $1.50
• D)$121.40; $4.40

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