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A customer uses a store credit card to purchase a boat for $10,500. The store credit card offers an annual interest rate, compounded continuously, of
A customer uses a store credit card to purchase a boat for $10,500. The store credit card offers an annual interest rate, compounded continuously, of 18.99% with no payments due for the first two years. If no payments are made for the two years, what will be the balance on the card, rounded to the nearest penny? $12,679.59 $12,695.85 $15,311.62 $15,350.92
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
10th Edition
B010IKDQZM
