Construct a timeline clearly showing the timing of the debt

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A loan of $1400 is due in 1 year at a simple interest rate of 12%. Partial payments of $400 in 2 months, $25 in 6 months, and $700 in 8 months are made

Question A. Construct a timeline clearly showing the timing of the debt and all repayments.

Question B. Determine the balance due at the end of the 12 months using the merchant rule

Question C . Determine the balance due at the end of the 8 months using the declining balance method

Reference no: EM132508630

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