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3 years ago

15

Jackson accumulated $9,000 in credit card debt. If the interest rate is 2.8% per year and he does not make any payments for 5 ye

ars, how much will he owe on his debt in 5 years by compounding continuously?

1 answer:

denis-greek [22]3 years ago

8 0

Answer: $10,260.00

Step-by-step explanation:

$9,000 + $9,000 (2.8%) (5)

= $9,000 + $1,260

= $10,260.00

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