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biancawoods biancawoods
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Marcie has a $20,000 personal line of credit with an interest rate of prime + 3%. On the last day of each month, a payment equal to the greater of $500 or 4% of the current balance (including the current month's accrued interest) is deducted from her chequing account. On December 6, she withdrew $5000. On January 15, she withdrew $12,000. The prime rate during this time was 3%. Calculate the balance owing at the end of February (non-leap year).
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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eggr0lleggr0ll
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biancawoods Author
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2 years ago
Good timing, thanks!
annabananerz
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Alina01978
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2 hours ago
Correct Slight Smile TY
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