Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
berry berry
wrote...
Go to Answer
Posts: 127
Rep: 0 0
10 months ago
Sam has a $10,000 personal line of credit. The interest rate is prime + 2%. On the last day of each month, a payment equal to the greater of $200 or 4% of the current balance (including the current month's accrued interest) is deducted from his chequing account. On July 2, he withdrew $4000 and another $3000 on July 15. The prime rate during July was 3%. Calculate the balance owing at the end of July.
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
Read 30 times
1 Reply
Replies
Answer verified by a subject expert
kamarie3kamarie3
wrote...
#1
Posts: 125
Rep: 1 0
10 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

berry Author
wrote...

10 months ago
This site is awesome
SUmmerPeople
wrote...

Yesterday
Just got PERFECT on my quiz
Shassta22
wrote...

2 hours ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1307 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1212
  
 2599
  
 2040
Your Opinion
Who will win the 2024 president election?
Votes: 3
Closes: November 4
Previous poll results: Where do you get your textbooks?