Given Principal $13,500, Interest Rate 9%, Time 240 days (use ordinary interest)
Partial payments: On 100th day, $3,800
On 180th day, $2,500
a. Use the U. S. Rule to solve for total interest cost. (Use 360 days a year. Do not round Intermediate calculations. Round your
answer to the nearest cent.)
Total interest cost
b. Use the U. S. Rule to solve for balances. (Use 360 days a year. Do not round Intermediate calculations. Round your answers to the
nearest cent.)
On 100th day
On 180th day
Balance after the payment
c. Use the U. S. Rule to solve for final payment (Use 360 days a year. Do not round Intermediate calculations. Round your answer to
the nearest cent.)
Final payment