Shawn Bixby borrowed $18,200 on a 132-day, 13% note. After 75 days, Shawn paid $3,200 on the note. On day 107, Shawn paid an additional $5,200. Use ordinary interest.
(a)
What is the final balance due? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Final balance due $
(b)
Determine total interest by the U.S. Rule. (Do not round intermediate calculations.Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Total interest $