4) Becoming conscientious about paying off his credit card bill promptly to reduce the amount of...
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4) Becoming conscientious about paying off his credit card bill promptly to reduce the amount of interest paid, Jamie was surprised to learn that he paid $400 in interest this year and the other amounts shown in the Figure below over the previous years. What is the equivalent amount 5 years from now that Jamie could have available had he not paid the interest penalties? Let i be 5% per year. 1 = 5% -2 -1 MIT $300 $600 0 $400 2 3 4 F=? s 4) Becoming conscientious about paying off his credit card bill promptly to reduce the amount of interest paid, Jamie was surprised to learn that he paid $400 in interest this year and the other amounts shown in the Figure below over the previous years. What is the equivalent amount 5 years from now that Jamie could have available had he not paid the interest penalties? Let i be 5% per year. 1 = 5% -2 -1 MIT $300 $600 0 $400 2 3 4 F=? s
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Jamie paid the following interest amounts in past years Year 5 600 Year 3 300 ... View the full answer
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