QUESTION 4 Within the U.S. Rule, interest is calculated thorugh which date? ...
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Accounting
QUESTION 4
Within the U.S. Rule, interest is calculated thorugh which date?
Due Date
Date on borrower's check
Postmark on borrower's envelope
Date received by lender
2.1 points
QUESTION 5
You get a car loan on September 22. Your first monthly payment is due October 22. The lender receives your payment on October 20. For how many days is interest calculated?
28 days
29 days
30 days
31 days
2.1 points
QUESTION 6
You buy a motorcycle on July 1 for $2,500 with $500 down. You agree to pay the seller the remaining $2,000 at 9% with monthly payments of $341.14. Your first payment is due August 1, but you make the payment on August 4. Using the U.S. Rule, calculate the remaining balance after that payment.
$1,673.86
$1,675.63
$1,675.86
$1,677.93
2.1 points
QUESTION 7
Troy Hancey has been making payments on his 9.5% boat loan for what seems like forever! Troy made a payment on May 1. His balance after that payment was $3,129.84. He just sold some stock and decides to use part of the money to pay off the boat loan on May 24. Calculate the payoff amount.
$3,129.84
$3,149.39
$3,427.17
$3,148.58
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