Myerson borrowed $8,500 at 9% ordinary interest for 200 days. After 120 days, he made a partial payment of $4,000. What is the final amount due on the loan?
A) $4,711.11
B) $4,486.67
C) $4,656.93
D) $4,850.10

Question

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The Answer of Myerson borrowed $8,500 at 9% ordinary interest for 200 days. After 120 days, he made a partial payment of $4,000. What is the final amount due on the loan?
A) $4,711.11
B) $4,486.67
C) $4,656.93
D) $4,850.10

Myerson Borrowed $8,500 at 9% Ordinary Interest for 200 Days