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Solve the Problem. -To Produce a Calculator, Cal Industries Signed a Note on a Note

Question 1

Multiple Choice

Solve the problem.
-To produce a calculator, Cal Industries signed a note on April 2 for $86,400, due in 120 days at 14% interest. On May 5 they made a payment of $20,000, and on June 1 another of $25,000. Find the amount due on the maturity date and the interest charged.


A) $43,914.25, $2514.25
B) $44,624.45, $3164.45
C) $45,112.15, $3652.15
D) $44,226.05, $2826.05

Correct Answer:

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