PREVIOUS ANSWERS ASK YOUR TEACHER P Margarita borrows $11,000 from her uncle and agrees to repay...

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PREVIOUS ANSWERS ASK YOUR TEACHER P Margarita borrows $11,000 from her uncle and agrees to repay it in monthly installments of $800. Her uncle charges 0.4% interest per month on the balance. (a) If her balance A,, in the nth month is given recursively by Ao = 11,000 and Ank-An-1-800, what is k? k=1.004 (b) Find her balance after eight months. (Round your answer to the nearest cent.) $ 8722.92 x PREVIOUS ANSWERS ASK YOUR TEACHER P Margarita borrows $11,000 from her uncle and agrees to repay it in monthly installments of $800. Her uncle charges 0.4% interest per month on the balance. (a) If her balance A,, in the nth month is given recursively by Ao = 11,000 and Ank-An-1-800, what is k? k=1.004 (b) Find her balance after eight months. (Round your answer to the nearest cent.) $ 8722.92 x