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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 $1,200

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 $1,200

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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 $1,200
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