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Questions and answers by
Miss Shabnam Kazi
Answers (1)
Step 1: Calculate the interest due for the first 45 days of the loan using I=PRT. $2,000 x .10 x 45 = $25.00 interest 360 Step 2: Subtract the interest owed from the partial payment to find the amount reducing the principal. $700 – 25 = $675 Step 3:
