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Soloha48 [4]
3 years ago
8

You borrow $2000 from the bank at 1% annual interest compounded monthly. The monthly payment is $100. What is the balance after

the third payment?
Mathematics
1 answer:
Blizzard [7]3 years ago
4 0

Answer:

$2.52

Step-by-step explanation:

If you start with the balance being $2000, the monthly payment is $100 with the percentage rate being 1%. You would way 0.84 per month and if you multiply that by three months, you get $2.52.

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