Question
In: Math
Edgar accumulated $7,000 in credit card debt. If the interest rate is 20% per year, and...
Edgar accumulated $7,000 in credit card debt. If the interest rate is 20% per year, and he does not make any payments for 3 years, how much will he owe (in dollars) on this debt in 3 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
(a)
compound quarterly
$
(b)
compound monthly
$
(c)
compound continuously
$
Solutions
milcah answered 2 years agoRelated Solutions
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