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On july 1st, you borrow $12,300 at 11.4% compounded month...
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by
Melanie
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On July 1st, you borrow $12,300 at 11.4% compounded monthly. On February 1st of the following year, you repay $4000, and $5,000 on June 1st of that year. Find the balance due on December 1st of the same year using a) the Merchant's Rule and b0 the U.S. rule
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