Find the new balance, assuming that the bank charges 11% per month on the unpaid balance. (Round your answer to the nearestcent.)$PreviousBalance$134.36Payment$25Need Help? Watch ItAdditional MaterialsNewPurchases$73.99

Interest = (Rate of interest × Amount × Time)/100 Using this, find the new balance.

Answered: Find the new balance, assuming that the…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...

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Find the new balance, assuming that the bank charges 12% per month on the unpaid balance. (Round your answer to the nearest cent.) $ Previous Balance $134.36 Payment $25 Need Help? Watch It Additional Materials New Purchases $73.99