Raul Fletes borrowed $10,000 on a 240 day note that required ordinary interest at 11.59%. Raul paid $5000 on the note on the 160th day. How much interest did he save by making the partial payment?
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Raul Fletes borrowed $10,000 on a 240 day note that required ordinary interest at 11.59%. Raul paid $5000 on the note on the 160th day. How much interest did he save by making the partial payment?
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160/240 and go from there.
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