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August 29, 2014

Homework Help: Maths

Posted by Kim on Monday, March 10, 2008 at 11:07am.

Use the United States Rule and/or Bankerís Rule to determine the balance due on the note at the date of maturity. (The effective date is the date the note was written.)

Principal - 6000
Rate - 5%
Effective Date - May 15
Maturity Date - November 1
Partial Payment Amount - $1500
Partial Payment Date -August 15

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