Question

A partial payment is made on the date(s) indicated. Use the United
States Rule to determine the balance due on the note at the date of
maturity. (The Effective Date is the date the note was written.)
Assume the year is not a leap year.
P $1900, R 6%, effective date april 10, maturity date october 7, partial payment made may 30 $400, partial august 1 $500

Answer 1

The balance due on the note at the date of maturity is $1400.