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Suzanne opens a line of credit at a local bank on January 1st, 2011. The following is her account activity over the first two years
Suzanne opens a line of credit at a local bank on January 1st, 2011. The following is her account activity over the first two years of having the line of credit. January 1st, 2011 - borrows $1740 4 months after January 1st, 2011 - repays $930 9 months after January 1st, 2011 - borrows $690 14 months after January 1st, 2011 - repays $710 If no other transactions take place and the interest rate is 9.6% compounded monthly, how much did she owe two years after she opened the line of credit?
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