Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months later, she repays 1120 dollars. 2 months afterthe repayment, she borrows 560 more dallars, 4 months later, she repavs 740 dollars. If no other transactions take place and the interest rateis 0.95 percent per month (compounded monthlydw much will she owe two years after she opened the line of credit?Answer= 396dollars.

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Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months later, she repays 1120 dollars. 2 months after the repayment, she borrows 560 more dollars, 4 monchs later, she repavs 740 dollars. If no other transactions take place and the interest rate is 0.95 percent per month (compounded monthlylow much will she owe two years after she opened the line of credit? Answer 396 dollars.

Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months later, she repays 1120 dollars. 2 months after the repayment, she borrows 560 more dollars, 4 monchs later, she repavs 740 dollars. If no other transactions take place and the interest rate is 0.95 percent per month (compounded monthlylow much will she owe two years after she opened the line of credit? Answer 396 dollars.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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