Your bank calculates the interest based on 12% APR on your credit card balance (monthly compounding). Suppose

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Your bank calculates the interest based on 12% APR on your credit card balance (monthly compounding). Suppose that your current outstanding balance is $2,000 and you skip payments for two months. What would be the total balance two months from now?

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 12, 2018 11:36 AM

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Your bank calculates the interest based on 12% APR on your credit card balance (monthly compounding). Suppose

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Fundamentals of Engineering Economics

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