Debora Acocella has an overdraft protection line. Assume that her October 2015 statement showed a latest (new)

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Debora Acocella has an overdraft protection line. Assume that her October 2015 statement showed a latest (new) balance of $862. If the line had a minimum monthly payment requirement of 5 percent of the latest balance (rounded to the nearest $5 figure), then what would be the minimum amount that she’d have to pay on her overdraft protection line?

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Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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