Multiple Choice
Solve the problem.
-The Smith's addition to their house is going to cost $23,150. On March 2 they sign a note at 9.5% interest due in 200 days. They make a partial payment on April 30 of $8000. What is the amount due on the maturity date? What is the amount of interest charged?
A) $15,713.71, $924.14
B) $16,087.55, $937.55
C) $16,520.23, $1370.10
D) $16,032.63, $882.63
Correct Answer:
Verified
Correct Answer:
Verified
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