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Henry borrows $1025 at 10.5% simple interest. He makes a partial payment of $195 at the...

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Advance Math

Henry borrows $1025 at 10.5% simple interest. He makes a partialpayment of $195 at the end of 9 month(s), and a partial payment of$390 at the end of 13 months. Determine the amount required tosettle the debt at the end of 19 months using (a) Merchant's Ruleand (b) U.S. Rule.

(a) Merchant's Rule: $

(b) U.S. Rule: $

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