Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in s) due on the (Round your answer to the nearest cent.) $ 8850
Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in s) due on the (Round your answer to the nearest cent.) $ 8850
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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![Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in $) due on the loan?
(Round your answer to the nearest cent.)
$ 8850
X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fddc5b4ba-eac4-4d75-845e-8b28bc08cdc1%2F4e9e3529-7955-406a-ae6c-e1d2800fd64f%2Fkmmkkqm_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in $) due on the loan?
(Round your answer to the nearest cent.)
$ 8850
X
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