Question:

Suppose you take out a loan for 160 days in the amount of

Last updated: 7/12/2022

Suppose you take out a loan for 160 days in the amount of

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.)