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Determine the total interest use the us rule

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Max Wholesaler borrowed $11,000 on a 6%, 120-day note. After 45 days, Max paid $3,850 on the note. Thirty days later, Max paid an additional $3,300. Use ordinary interest.

a. Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.)

b. Determine the ending balance due use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.)

Reference no: EM132406676

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