Comet Lee borrowed $16,000 on a 6%, 90-day note. After 20 days, Comet paid $2,000 on the note. On day 50, Comet paid $4,000 on the note. What are the total interest and ending balance due by the U.S. Rule? Use ordinary interest. (Use 360 days. Do not round the denominator in your calculation and round your final answers to the nearest cent.) What is the total interest? Ending balance due? Could you please go into detail about the partial payment problem here? I'm having a difficult time figuring it out. For the interest 311.20 is wrong and for the ending balance due 10,311.20 is wrong. Please help me work this problem out.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Comet Lee borrowed $16,000 on a 6%, 90-day note. After 20 days, Comet paid $2,000 on the note. On day 50, Comet paid $4,000 on the note. What are the total interest and ending balance due by the U.S. Rule? Use ordinary interest. (Use 360 days. Do not round the denominator in your calculation and round your final answers to the nearest cent.)
Could you please go into detail about the partial payment problem here? I'm having a difficult time figuring it out. For the interest 311.20 is wrong and for the ending balance due 10,311.20 is wrong. Please help me work this problem out.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
