Find the Balance Due on the Maturity Date of the Note

question 80

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: $38,400
Interest: 9.2%
Time (days) : 180
Partial payment: $20,000 on day 100

• A)$18,642.69; $242.69
• B)$22,101.51; $3701.51
• C)$19,777.57; $1377.57
• D)$20,421.19; $2421.19

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Definitions:

Bronchial Constriction

The narrowing of the bronchi, the air passages into the lungs, often as a response to allergens, cold air, or irritants, leading to breathing difficulties.

Rapid Defense Response

An immediate response mechanism by organisms, particularly plants, to repel or mitigate damage from predators or pathogens.

Chronic Obstructive Pulmonary Disease

A group of lung conditions that cause breathing difficulties, including emphysema and chronic bronchitis, often due to long-term exposure to harmful substances.

Bronchial Constriction

The narrowing of the bronchi in the lungs due to the tightening of surrounding smooth muscle, often as a response to asthma or other respiratory conditions.