Solved: On june 9 chris made a payment of 800 and on june 17 he, Accounting Basics

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On june 9 chris made a payment of 800 and on june 17 he

Question - 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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Accounting Basics: On june 9 chris made a payment of 800 and on june 17 he

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