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Trevonne had a $750,000 line of credit with Treyenne State bank. They had an outstanding balance of $150,000 at the beginning of 2020, paid $72,000
- Trevonne had a $750,000 line of credit with Treyenne State bank. They had an outstanding balance of $150,000 at the beginning of 2020, paid $72,000 on the balance on January 28, 2020, borrowed an additional $165,000 on March 16, 2020. If the interest rate is seven percent compounded monthly, what is the balance on the line of credit as of March 31, 2020.
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Auditing A Modern Approach
Authors: Sanjay Basotia
1st Edition
938092903X, 978-9380929033
