Steve Perry borrowed $70,000 at 12% ordinary interest for 60 days. On day 20 of the loan, Steve made a partial payment of $9,000. What is the new maturity value (in $) of the loan? (Round your answer to two decimal places.)

Steve Perry borrowed $70,000 at 12% ordinary interest for 60 days. On day 20 of the loan, Steve made a partial payment of $9,000. What is the new maturity value (in $) of the loan? (Round your answer to two decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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