# math

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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: (Points : 1)
\$1,008.89
\$48,008.89
\$47,444.44
\$44,744.44
None of these

• math -

P = Po + Po*r*t.

r = (8%/360)/100% = 0.00022222 = Daily %
rate.

P=50000 + 50000*0.0002222*40=\$50,444.44

Bal. = 50444.44-3000 = \$47,444.44

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