A new employee charged $7090 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 21% compounded monthly, he stopped charging on that account He wishes to pay off his balance in 3 years using automatic payments sent at the end of each month sm 3 a. What monthly payment must he make to pay off the account at the end of 3 years? b. How much total interest will he have paid? a. What monthly payment must he make to pay off the account at the end of 3 yoars? 1.42 (Round to the nearest cent as needed) b. How much total interest will he have paid? $ (Round to the nearest cent as needed) (2)
A new employee charged $7090 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 21% compounded monthly, he stopped charging on that account He wishes to pay off his balance in 3 years using automatic payments sent at the end of each month sm 3 a. What monthly payment must he make to pay off the account at the end of 3 years? b. How much total interest will he have paid? a. What monthly payment must he make to pay off the account at the end of 3 yoars? 1.42 (Round to the nearest cent as needed) b. How much total interest will he have paid? $ (Round to the nearest cent as needed) (2)
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...
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