Chase has a 42500 line of credit which charges an annual, Ask an Expert

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Chase has a $42,500 line of credit which charges an annual percentage rate of prime rate plus 5%. His starting balance on June 1 was $2,550. On June 4 he borrowed $5,300. On June 9, Chris made a payment of $800, and on June 17 he borrowed $5,600. If the current prime rate is 10%, what is his new balance?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91590207

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