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    mitchw1990's Avatar
    mitchw1990 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 9, 2016, 01:56 PM
    Interest Saved
    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?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    May 9, 2016, 02:00 PM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
    		  
    #3

    May 9, 2016, 05:01 PM
    160/240 and go from there.
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