Shawn Bixby borrowed $36,000 on a 120-day, 12% note. After 65 days, Shawn paid $3,900...
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Accounting
Shawn Bixby borrowed $36,000 on a 120-day, 12% note. After 65 days, Shawn paid $3,900 on the note. On day 95, Shawn paid an additional $5,900. 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.) Total interest $
b. Determine the ending balance due use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.)
Ending balance due
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