Jones of boston borrowed $40,000, on a 90-day 10% note. after 60 days, jones made an initial payment of $6,000. on day 80, jones made an additional payment of $7,000. assuming the u. s. rule, what's the adjusted balance of the first payment? (use 360 days.)

$34,666.67

Step-by-step explanation:

Step 1: Calculate the interest for 60 days.

(40000*60/360 )* 0.10 = $666.67

Step 2: Amount = Principal + Interest = $40,000 + 666.67 = $40,666.67

Step 3 : After 60 days, he paid $6000.

Remaining balance of the first payment = 40666.67 - 6000 = $34,666.67

Thank you.

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step-by-step explanation:

the following points can be visualized easily from the graph