What is the final balance due

Reference no: EM13190328

Shawn Bixby borrowed $18,200 on a 132-day, 13% note. After 75 days, Shawn paid $3,200 on the note. On day 107, Shawn paid an additional $5,200. Use ordinary interest.

(a)

What is the final balance due? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Final balance due $

(b)

Determine total interest by the U.S. Rule. (Do not round intermediate calculations.Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Total interest $

Reference no: EM13190328

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