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7. Mohammed spent $800 on his credit card. His credit card company charged 18% compounded monthly. He forgot to pay it for 3 months. How much does he owe now? How much of that is interest?

7. Mohammed spent $800 on his credit card. His credit card company charged 18% compounded monthly. He forgot to pay it for 3 months. How much does he owe now? How much of that is interest?

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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I need help with question 7 please step by step .
ocument/d/1rizVNWIGKEYGDDubgT481 DVPbfgq8DoYOXJm3yBL2E/edit Web H Channel Guide G H Customize Links O Free HotMail Global Environmen.. H Internet Start H nterest Worksheet A 0 O Reque: 6. What is the amount of an investment if $750 is invested at 2.45% interest compounded monthly for 3 years? 7. Mohammed spent $800 on his credit card. His credit card company charged 18% compounded monthly. He forgot to pay it for 3 months. How much does he owe now? How much of that is interest? 8. Suzy is starting college in 4 years and would like to have $4000 when she starts. She has $2500 to invest now, and her bank pays 1.75% compounded semi-annually. Will she have enough?
Transcribed Image Text:ocument/d/1rizVNWIGKEYGDDubgT481 DVPbfgq8DoYOXJm3yBL2E/edit Web H Channel Guide G H Customize Links O Free HotMail Global Environmen.. H Internet Start H nterest Worksheet A 0 O Reque: 6. What is the amount of an investment if $750 is invested at 2.45% interest compounded monthly for 3 years? 7. Mohammed spent $800 on his credit card. His credit card company charged 18% compounded monthly. He forgot to pay it for 3 months. How much does he owe now? How much of that is interest? 8. Suzy is starting college in 4 years and would like to have $4000 when she starts. She has $2500 to invest now, and her bank pays 1.75% compounded semi-annually. Will she have enough?
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