Question:
Suppose you take out a loan for 160 days in the amount of
Last updated: 7/12/2022
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Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 30 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in $) due on the loan? (Round your answer to the nearest cent.)