SOLUTION: Given
Principal $10,000, Interest Rate 8%, Time 240 days (use ordinary interest)
Partial payments: On 100th day, $4,000; On 180th day, $2,000
Use the U.S. Rule to solve fo
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-> SOLUTION: Given
Principal $10,000, Interest Rate 8%, Time 240 days (use ordinary interest)
Partial payments: On 100th day, $4,000; On 180th day, $2,000
Use the U.S. Rule to solve fo
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Question 1210258: Given
Principal $10,000, Interest Rate 8%, Time 240 days (use ordinary interest)
Partial payments: On 100th day, $4,000; On 180th day, $2,000
Use the U.S. Rule to solve for total interest cost.
Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent. Answer by ikleyn(52798) (Show Source):
