Asked by Anooo

Jeff Edsell owes $5,000 on a 4%, 90-day note. On day 50, Jeff pays $600 on the note. On day 80, Jeff makes an $800 additional payment. Assume a 360-day year. What is Jeff’s adjusted balance after day 50 and after day 80? What is the ending balance due?

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Answered by Anonymous
600
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