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19 February, 06:37

Larry accumulated $3,000 in credit card debt. If the interest rate is 10% per year and he does not make any payments for 2 years, how much will he owe on this debt in 2 years for monthly compounding?

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Answers (2)
  1. 19 February, 08:09
    0
    600 divided by 12 = 50

    Step-by-step explanation:

    3000 divided by 10 = 300 x 2 = 600 divided by 12 = 50
  2. 19 February, 09:10
    0
    He will owe 50 in 2 years
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