Question

Please help. Please provide answer and formula.

264 Chapter 10 Simple Interest LU 10-2a EXTRA PRACTIC Complete the following (assume 360 days): Need more practice? Try this Extra Practice Quiz (check tigures in Chapter Organizer P 267) Interest Time Principal rate 1. 2. $6,.000? 3. $900 Simple interest $9,000 280 190 90 days 180 days 4% 6% Learning Unit 10-3: U.S. Rule-Making Partial Note Payment before Due Date Often a person may want to pay off a debt in more than one payment date. The US. Rule allows the borrower to receive proper interest cre that any partial loan payment first covers any interest that has built up. 1 partial payment reduces the loan principal. Courts or legal proccedings g Rule. The Supreme Count originated the US. Rule in the case of Story EXAMPLE Joe Mill owes SSLXXI on an l 1%, 90-day note. On day 50, note. On day so Joe makes an S800 additional payment. Asume a e dos's adusted balante alter das 50 and atter da sq Whatis thed Joe makes an s800 additional pay ment. Assume a s6

Answer 1

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Home nert Page Layout Formulas Data Review View dd-Ins Cut Wrap Text aCopy в 1 프 . Ej-., Δ. : rーー 逻锂函Merge & Center. $, % , 弼,8 Conditional Format eCell Insert Delete Format Paste Sort &Find & 2 ClearFe Select Edting Format Painter Formatting, as Table w styles. ▼ ㆆ ▼ Clipboard Font Alignment Number Cells 0131 OF OG он Ol OJ OK OL OM ON OP OR oS 20 21 BASIC FORMULA IS: SI-PRN N n/360 (IN DAYS) TIME (n) 23 24 25 26 27 28 29 30 31 32 PRINCIPAL (P) RATE (R) SI 90 180 6% 1266.67 FORMULA 9000-P(496)(90/36O) 280 6000*(R) *(180/360) 190 = 900"(696) *(n/360) ANSWER P-(9000*360)/(90*4%)-900000 R-(280*360)/(6000* 180)-9.3333% 4% 9000 280 190 900000 6000 9.3333% 900 ( 190*360)/(900*6%)-1266.67 DAYS 34 35 36 37 38 44M CALCULATOR LOAN OPTIONS pv, fv, annuity CAP STRU VALUE BOX DILUTION DOLLAR COST AVGMORTGAGE EXPO Sheeti Sheet2 Shel rences: x261 05:36 06-01-2019