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July 29, 2014

Homework Help: business finance

Posted by no name on Friday, August 31, 2012 at 7:24pm.

Lisa Kane borrowed $8,000 on an 8%, 60-day note. After 15 days, Lisa paid $2,000 on the note. On day 45, Lisa paid $1,000 on the note. What is the total interest and ending balance due by the U.S. rule? Use ordinary interest.

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