QuestionBetty owes \$57,600 on a 9%, 170-day note. After payments of \$11,520 (day 60) and \$23,040 (day 70), find:
1. Balance after first payment:
2. Balance after second payment:
3. Balance at maturity:

Studdy Solution
Calculate the balance at maturity.
$$Balance\, at\, maturity = \$24,021.36 + \$600.54 = \$24,621.90$$The adjusted balance after the first payment is $46,944, after the second payment is$24,021.36, and the balance at maturity is $24,621.90.