A 100-day note worth $38,000 has an interest rate of 10% compounded annually and was signed on September...
5. A 100-day note worth $38,000 has an interest rate of 10% compounded annually and was signed on September 19. A payment totaling $14,500 was made on October 21. What is the new amount that is due upon maturity of the note? Use the banker's method which uses a 360-day year.
- $14,162.22
- $23,837.78
- $37,211.96
- $24,288.05
- $14,162.22
- $23,837.78
- $37,211.96
- $24,288.05

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