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Chase has a 42500 line of credit which charges an annual

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: Chase has a 42500 line of credit which charges an annual

Reference No:- TGS02331995

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Financial Management: Chase has a 42500 line of credit which charges an annual

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