Solve the Problem. -To Produce a Calculator, Cal Industries Signed a Note on a Note

question 1

Multiple Choice

Solve the problem.
-To produce a calculator, Cal Industries signed a note on April 2 for $86,400, due in 120 days at 14% interest. On May 5 they made a payment of $20,000, and on June 1 another of $25,000. Find the amount due on the maturity date and the interest charged.

• A)$43,914.25, $2514.25
• B)$44,624.45, $3164.45
• C)$45,112.15, $3652.15
• D)$44,226.05, $2826.05

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