Find the adjusted balance (Principal) using the U.S.Rule (360days) after the first payment. Rate: 11% Total Time for Note: 120 days Note Amount: $7,000 Partial payment on day 30: $900 Partial payment on day 90: $1,200
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Find the adjusted balance (Principal) using the U.S.Rule (360days) after the first payment.
Rate: 11%
Total Time for Note: 120 days
Note Amount: $7,000
Partial payment on day 30: $900
Partial payment on day 90: $1,200
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- Find the adjusted balance (principal) using the U.S. Rule (360 day) after the first payment. Principal Rate Total TIme for Note Note Amount Partial Payment on Day 30 Partial Payment on Day 90 11% 120 days $7,000 $900 $1,200A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $2000 Effective Date Date April 1 May 1 Click the icon to view a table of the number of the day of the year for each date. Partial Payment Rate 5% Amount $1000 Maturity Date June 1 The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.)A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Effective Partial Payment Maturity Principal Rate Date Amount Date Date $4000 4% April 1 $3000 May 1 June 1 Click the icon to view a table of the number of the day of the year for each date. The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.)
- A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $3700 Rate 6.5% Effective Date Partial Payment Amount Date Maturity Date Jan. 1 $1000 May 1 July 31 Click the icon to view a table of the number of the day of the year for each date. The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.)Partial payments are made on the dates indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal Rate Effective Date Partial Payment Maturity Date Amount Date $10,100 8% Sept. 1 $2,000 Oct. 1 Dec. 1 $3,000 Nov. 15 Question content area bottom Part 1 The balance due on the note at the date of maturity is $A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Effective Partial Payment Maturity Principal $4000 Rate Date Amount Date Date More Info 5% April 1 $3000 May 1 June 1 Click the icon to view a table of the number of the day of the year for each date. The balance due on the note at the date of maturity is $ Days in Each Month (Round to the nearest cent as needed.) Day of 31 28 31 30 31 30 31 31 30 31 30 31 Month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Day 1 1 32 60 91 121 152 182 213 244 274 305 335 Day 2 2 33 61 92 122 153 183 214 245 275 306 336 Day 3 34 62 93 123 154 184 215 246 276 307 337 Day 4 4 35 63 94 124 155 185 216 247 277 308 338 Day 5 5 36 64 95 125 156 186 217 248 278 309 339 Day 6 6. 37 65 96 126 157 187 218 249 279 310 340 Day 7 7 38 66 97 127 158 188 219 250 280 311 341…
- A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The effective date is the date the note was written.) Assume the year is not a leap year. Principal $7000 Rate 3% Effective Date July 15 Partial Payment Date Dec. 24 Amount $4000 Maturity Date Feb. 1A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written) Assume the year is not a leap year. Principal $3000 Rate 4% Effective Date April 1 Partial Payment Amount $1000 Maturity Date June 1 Date May 1 Click the icon to view a table of the number of the day of the year for each date The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.) GITTEPartial payments are made on the dates indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $12,000 Rate 4% Effective Date Sept. 1 Partial Payment Date Oct. 1 Nov. 15 Amount $1,000 $4,000 The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.) Maturity Date Dec. 1
- Given: an 11% 120-day $9,000 note. Find the adjusted balance (principal) using the U.S. Rule (360 days) after the first payment on the 65th day of $1,000. (Round your answer to the nearest cent.)Given: 11% 120day $7,000 Note Partial Payments: Day 30 $900 Day 90 $1,200 Find the adjusted balance (principal) using the U.S. Rule (360 day) after the first payment. (Round your answer to the nearest cent.)Apply the United States rule to determine the balance at maturity and the total interest paid ir the borrower makes two partial payments and the renainder of the loan is paid at maturity. Loan Length (Days) 280 Payment on Day Principal Interest Rate % Partial Payment $13,500 10.5 $5670.00 112 $3915.00 196