On July 1st You Borrow 12 300 At 11 4 Compounded Monthly On February 1st Of The Foll 2457717

On July 1st, you borrow $12,300 at 11.4% compounded monthly. On February 1st of the following year, you repay $4,000, and $5,000 on June 1st of that year. Find the balance on December 1st of the same year using:

the U.S. Rule

Prof. Angela


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