Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

تمرين 30

Solve the following application problem using the United States Rule.
INVENTORY The Washington News orders large quantities of paper every 4 months to save on freight charges. For its last order, the firm signed a note on February 18, maturing on May 15. The face value of the note was $104,500, with interest of 11%. The firm made a partial payment of $38,000 on March 20 and a second partial payment of $27,200 on April 16. Find (a) the amount due on the maturity date of the note __________ and (b) the amount of interest paid on the note. __________