What is the final balance due

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Reference no: EM13263843

Max Wholesaler borrowed $3,700 on a 7%, 154-day note. After 59 days, Max paid $785 on the note. Thirty six days later, Max paid an additional $715. Use ordinary interest.

(a)What is the final balance due? (Round your answers to two decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

(b)Use the U.S. Rule to determine total interest. (Do not round intermediate calculations. Round your answers to two decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Reference no: EM13263843

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