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Jillian bought a tractor for $5,000. Jillian has decided that she can afford to pay only $1,000 per ...

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Jillian bought a tractor for $5,000. Jillian has decided that she can afford to pay only $1,000 per ...

Jillian bought a tractor for $5,000. Jillian has decided that she can afford to pay only $1,000 per month. Can you calculate at the end of month 2 the balance of the loan outstanding? Use the U.S. Rule. The monthly interest charged is 5% on the unpaid balance.

Note: Round your answer to the nearest cent.

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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drw92 Author

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This helped my grade so much Perfect

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Just got PERFECT on my quiz

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Thanks for your help!!

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