acob, a university student in finance, has an unpaid credit card balance of $1,500. His credit card company charges 13% compounded daily on unpaid balances. Assuming he chooses not to pay his credit card balance for one year, how much will he owe in one year’s time.

Answer rating: 100% (QA)

To calculate the amount Jacob will owe in one years time we can use the co... View the full answer