Max Wholesaler borrowed $3,700 on a 7%, 154-day note. After 59 days, Max paid $785 on the note. Thirty six days later, Max paid an additional $715. Use ordinary interest.
(a)What is the final balance due? (Round your answers to two decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
(b)Use the U.S. Rule to determine total interest. (Do not round intermediate calculations. Round your answers to two decimal places. Omit the "tiny_mce_markerquot; sign in your response.)