Question

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

Answer 1

50,000x0.08=4000+3000=7000+4000=$11000

Answer 2

wait

Answer 3

ok

Answer 4

depends on where is first payment is, assuming 1 payment is 90 days

Answer 5

thank you

Answer 6

that might be wrong i'm still calculating.

Answer 7

54000 including interest, minus 7000 payments is 47000