#1 Jill borrows 16540 dollars from a line of credit at a rate of 6.9 percent convertible monthly. At the end of each month, in addition to the interest charged on the account balance, there is a fee charged to the account. The fee is 40 dollars at the end of the first month, and will increase by 1.9 percent each month that follows. How much does Jill owe after 14 months have passed, assuming she makes no payments? (Note: Assume that she has just been charged the interest and fee for the 14th month.) Answer = dollars