EE TRIPPE REDD XTR; x /, D Qoz chapter 10 C O ezto.mheducation.com/hm.tpx Econne

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EE TRIPPE REDD XTR; x /, D Qoz chapter 10 C O ezto.mheducation.com/hm.tpx Econnect NMHU BUS 200: 3173 iz chapter 10 Question 10 (of 12) JIl bought a S500 rocking char. The terms of her revolving charge are 12% on the unpaid balance from the previous month. it she pays $100 per month, complete a schedule for the first 3 months. Be sure to use the U.S Rule. (Round your final answers to the nearest cent.) 19% Monthly paymentOutstandng Reduction in balance due Outstanding balance due monthly balance due payment References eBook & Resources Difficulty: Intermediate Leaming Objective: 10-02 (1) Calcul F4 F5 F6 8 2 3 4 5 6 7

Explanation / Answer

Note: It is assumed that payment is made at the end of each month and not at the beginning of each month

Monthly Payment Number Outstanding Balance Due 1.5% Interest payment Amount of Monthly payment Reduction in balance due Outstanding balance due 1 500.00 7.50 100.00 92.50 407.50 2 407.50 6.11 100.00 93.89 313.61 3 313.61 4.70 100.00 95.30 218.32

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