Malinda Levi borrows $12,000 on a 9.5% , 90 day note. On the 30th day, Malinda pays $4,000 on the note. If ordinary interest is applied, what is Malinda’s adjusted principal after the partial payment? What is the adjusted balance due at maturity?

P = Po + Po*r*t - 4,000

P = 12000 + 12000*(0.095/360)*30 - 4000
P = 12000 + 95 - 4000 = $8,095

Bal.=8,095+8095*(0.095/360)*60=$8,223.17
Due at maturity.

To find Malinda's adjusted principal after the partial payment, we need to calculate the remaining principal after she pays $4,000 on the note.

Step 1: Calculate the interest on the original principal for the first 30 days:
Interest = Principal × Interest Rate × Time
Interest = $12,000 × 9.5% × (30/365) [Using 30/365 since the interest is calculated based on actual days]
Interest = $987.67 (rounded to the nearest cent)

Step 2: Subtract the interest from the original principal:
Adjusted Principal = Principal - Interest
Adjusted Principal = $12,000 - $987.67
Adjusted Principal = $11,012.33 (rounded to the nearest cent)

Step 3: Subtract the partial payment from the adjusted principal:
Adjusted Principal = Adjusted Principal - Partial Payment
Adjusted Principal = $11,012.33 - $4,000
Adjusted Principal = $7,012.33 (rounded to the nearest cent)

So, Malinda's adjusted principal after the partial payment is $7,012.33.

To find the adjusted balance due at maturity, we need to calculate the interest on the adjusted principal for the remaining 60 days.

Step 4: Calculate the interest on the adjusted principal for the remaining 60 days:
Interest = Adjusted Principal × Interest Rate × Time
Interest = $7,012.33 × 9.5% × (60/365) [Using 60/365 since the interest is calculated based on actual days]
Interest = $715.51 (rounded to the nearest cent)

Step 5: Add the interest to the adjusted principal:
Adjusted Balance Due at Maturity = Adjusted Principal + Interest
Adjusted Balance Due at Maturity = $7,012.33 + $715.51
Adjusted Balance Due at Maturity = $7,727.84 (rounded to the nearest cent)

So, Malinda's adjusted balance due at maturity is $7,727.84.

To find the adjusted principal after the partial payment, we need to subtract the amount paid ($4,000) from the original principal ($12,000).

Adjusted principal = Original principal - Payment
Adjusted principal = $12,000 - $4,000
Adjusted principal = $8,000

So, Malinda's adjusted principal after the partial payment is $8,000.

Next, to find the adjusted balance due at maturity, we need to determine the interest accrual for the remaining 60 days (90 days - 30 days).

Interest accrual = Adjusted principal * Interest rate * Time
Interest accrual = $8,000 * 9.5% * (60/365) (assuming a 365-day year)

Now we can calculate the adjusted balance due at maturity by adding the interest accrual to the adjusted principal.

Adjusted balance due at maturity = Adjusted principal + Interest accrual

To calculate the interest accrual, we can follow these steps:

Step 1: Convert the interest rate to a decimal
9.5% = 0.095

Step 2: Calculate the interest accrual
Interest accrual = $8,000 * 0.095 * (60/365)
Interest accrual = $8,000 * 0.095 * 0.164

Step 3: Calculate the adjusted balance due at maturity
Adjusted balance due at maturity = $8,000 + ($8,000 * 0.095 * 0.164)

Calculating further will give us the adjusted balance due at maturity.