A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment will pay off this debt in 1 year 2 months? (Round your answer to the nearest cent.)

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
Question

A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment will pay off this debt in 1 year 2 months? (Round your answer to the nearest cent.)

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