Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not make any payments for 3 years, how much will he owe (in dollars) on this debt in 3 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not make any payments for 3 years, how much will he owe (in dollars) on this debt in 3 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not make any payments for 3 years, how much will he owe (in dollars) on this debt in 3 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
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