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You have an inactive credit card with $1000 outstanding unpaid balance. The credit card charges at an annual rate of 17.5% compounded monthly. You
You have an inactive credit card with $1000 outstanding unpaid balance. The credit card charges at an annual rate of 17.5% compounded monthly. You are able to make a payment of $300 one month from today and $400 two months from today. Find the amount that you will have to pay three months from today to completely pay off the credit card debt. Answer = $
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
