Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on...

Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on the note. Thirty days later, Max paid an additional $900. Use ordinary interest. a) Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answers to the nearest cent.) b) Determine the ending balance due use the U.S. Rule.(Do not round intermediate calculations. Round your answers to the nearest cent.)

Expert Solution

ekkarill92 answered 1 year ago

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