question archive Chapter 4 Simple Interest Use: I - PRT The Mexican restaurant where Tristan works borrowed $78,000 for 90 days to purchase new kitchen equipment
Chapter 4 Simple Interest Use: I - PRT The Mexican restaurant where Tristan works borrowed $78,000 for 90 days to purchase new kitchen equipment
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Chapter 4 Simple Interest Use: I - PRT The Mexican restaurant where Tristan works borrowed $78,000 for 90 days to purchase new kitchen equipment. The rate was 11.4% using ordinary interest (360-day year). On day 34 of the loan, the restaurant made a partial payment of $5,000. What is the adjusted balance after this partial payment? Round to the nearest cent.
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