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You have a balance of 9900 for your tuition on your American Express credit card...

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Basic Math

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You have a balance of 9900 for your tuition on your American Express credit card Assume that you make no more charges on the card Also assume that American Express charges 11 APR and that each month you make only the minimum payment of 4 of the balance Find a formula for the balance after r monthly payments Give an exact solution Use symbolic notation and fractions where needed balance after r months S

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