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OpenStudy (anonymous):
Max has a credit card with an APR of 26.2% compounded monthly. His previous balance was $1,780. If he makes a payment of $123 this month, what is the new balance on his credit card?
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OpenStudy (dumbcow):
\[= 1780(1 + \frac{.262}{12}) -123\]
OpenStudy (anonymous):
so... the answer is 1695.86, right? :D THANK YOU!!!
OpenStudy (dumbcow):
yep....yw
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