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What is the balance due on august declining balance method

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On February 4th John borrowed ksh 3,000/= at 11%. He paid ksh 1,000/= on April 21st, ksh 600/= on May 12th and ksh 700/= on June 11th.

Problem (a) What is the balance due on August 15th using the merchant's rule?

Problem (b) What is the balance due on August 15th declining balance method?

Reference no: EM132619178

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