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July 31, 2015

Homework Help: Business Finance

Posted by Tom on Saturday, May 19, 2012 at 8:24am.

Lisa Kane borrowed $8000 on an 8% 60 day note. After 15 days, Lisa paid $2000 on the note. On day 45, Lisa paid $1000 on the note. What is the total interest and ending balance due by the U.S. rule? Use ordinary interest.

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