Alicia borrowed $8,500 at 6% ordinary interest for 180 days. After 40 days, she

Question

Alicia borrowed $8,500 at 6% ordinary interest for 180 days. After 40 days, she made a partial payment of $2,000. After another 70 days, Alicia made a second partial payment of $2,000. What is the final amount due on the loan? Answer a. $4,500.50 b. $4,687.21 c. $4,755.00 d. $4,684.62 Alicia borrowed $8,500 at 6% ordinary interest for 180 days. After 40 days, she made a partial payment of $2,000. After another 70 days, Alicia made a second partial payment of $2,000. What is the final amount due on the loan? Alicia borrowed $8,500 at 6% ordinary interest for 180 days. After 40 days, she made a partial payment of $2,000. After another 70 days, Alicia made a second partial payment of $2,000. What is the final amount due on the loan? $4,500.50 $4,687.21 $4,755.00 $4,684.62 a. $4,500.50 b. $4,687.21 c. $4,755.00 d. $4,684.62

Explanation / Answer

b. $4,687.21

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