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Given Principal $15,000, Interest Rate 6%, Time 240 days (use ordinary interest) ...

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Finance

Given Principal $15,000, Interest Rate 6%, Time 240 days (use ordinary interest)
Partial payments: On 100th day, $7,000
On 180th day, $4,000

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.)

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.)

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.)

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