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Jones of Boston borrowed $40,000 on a 90 day 10% note. After 60 days Jones made an initial payment of $6000. On day 80 Jones made an additional payment of $7000. Assuming the US rule what is adjusted
Jones of Boston borrowed $40,000 on a 90 day 10% note. After 60 days Jones made an initial payment of $6000. On day 80 Jones made an additional payment of $7000. Assuming the US rule what is adjusted balance of the first payment ? Use 360 days