Suppose you borrow 1000 at a 12 annual interest rate compounded monthly 1 each month...
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Suppose you borrow 1000 at a 12 annual interest rate compounded monthly 1 each month At the end of each month you make a 100 payment Use this information to complete the table below Round to the nearest cent as needed Month 0 1 2 3 4 51 S Prior Balance 1000 910 819 10 1 Interest on Prior Balance 10 9 10 8 19 Monthly Payment 100 100 100 Ending Balance 1000 910 819 10 727 29
Suppose you borrow 1000 at a 12 annual interest rate compounded monthly 1 each month At the end of each month you make a 100 payment Use this information to complete the table below Round to the nearest cent as needed Month 0 1 2 3 4 51 S Prior Balance 1000 910 819 10 1 Interest on Prior Balance 10 9 10 8 19 Monthly Payment 100 100 100 Ending Balance 1000 910 819 10 727 29
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