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 3 years ago
Christina Hercher borrowed $50,000 on a 90 day, eight percent note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is?
 3 years ago
Christina Hercher borrowed $50,000 on a 90 day, eight percent note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is?

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Tonks
 3 years ago
Best ResponseYou've already chosen the best response.0What is the US Rule? I don't know if a=pe^rt applies here, but if so: 50000*e^(1.08*40/365)=56282.25 56282.253000=53282.25
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